SINGAPORE - City Developments Limited posted a 12.5 per cent rise in net profit to $87.7 million for the fourth quarter ended Dec 31, up from $77.9 million a year ago.
Earnings per share for the quarter came in at nine Singapore cents, up 13.9 per cent from 7.9 Singapore cents in the year-ago period.The property development segment's revenue was backed by several Singapore projects including The Tapestry, Whistler Grand and Amber Park, as well as the fully sold 32 Hans Road project in the UK.
Meanwhile, in the investment properties segment, the acquisition of the UK's Aldgate House and 125 Old Broad Street in late 2018 boosted revenue for the latest quarter.
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