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CityDev ends FY18 with record revenue despite 4Q decline; recommends special 6 cents dividend

By Michelle Zhu

/ The Edge Singapore |

February 21, 2019 11:11 AM SGT

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SINGAPORE (Feb 21): City Developments recorded earnings of $77.9 million for 4Q18, down 54.7% from $171.9 million a year ago on lower revenue and higher expenses.

Revenue for the quarter fell 40.6% to $788.3 million from restated 4Q17 revenue of $1.3 billion, arising mainly from variances in project and unit revenue recorded.

The main contributors of revenue for the latest quarter was New Futura, The Tapestry and Park Court Aoyama The Tower – whereas in 4Q17, it was Gramercy Park and The Brownstone executive condominium (EC), which obtained TOP in that quarter and recorded entire revenue from sold units then.

This article - CityDev ends FY18 with record revenue despite 4Q decline; recommends special 6 cents dividend is originally from TheEdgeSingapore.com

Read also:

City Developments a promising investment amid a smidgen 1.3% increase in FY2019 earnings, say analysts

CDL posts 12.5% rise in 4Q earnings to $87.7 mil

CDL’s profit rises 12.5% in 4Q2019 after bumper year of six residential project launches

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