,Singapore

Capitaland's H1 profit soars to $922.2m from $96.6m

This is a whopping 854.5% increase.

CapitaLand recently posted a profit after taxation and minority interests of $922.2m for the first half (H1) of 2021, an 854.4% uptick over last year. 

The company points to fees from CapitaLand’s real estate investment trusts and unlisted funds, as well as contributions from development projects as the reasons for this. 

Earnings before interest and taxes also shot up by 262.9% to reach $2,165.7m compared to the previous year. 

CapitaLand GroupCEO Lee Chee Koon delivered his outlook on Capitaland’s H1 2021 performance. “While we are encouraged by the progress achieved in H1 2021, we are mindful that our businesses continue to face disruptions and uncertainties heightened by COVID-19; and the wider economy has yet to resume normalcy.” 

Koon also remarks that these results would be the last announced as the company undergoes its restructuring process. 

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