CapitaLand 2Q net profit dips 0.7% on lower portfolio gains

Property giant CapitaLand posted a marginal 0.7 per cent dip in second-quarter earnings from the preceding year to $383.1 million on Thursday. -- FILE PHOTO: BLOOMBERG  
Property giant CapitaLand posted a marginal 0.7 per cent dip in second-quarter earnings from the preceding year to $383.1 million on Thursday. -- FILE PHOTO: BLOOMBERG  

Property giant CapitaLand posted a marginal 0.7 per cent dip in second-quarter earnings from the preceding year to $383.1 million on Thursday.

Revenue for the three months to June 30 jumped 37.1 per cent to $1.18 billion year-on-year.

The firm said the slide in net profit for the second quarter was due to lower portfolio gains.

For the first half of the year, net profit rose 10.1 per cent to $571.3 million and revenue climbed 22.7 per cent to $1.84 billion.