CDL shares surge 11.2% on strong H1 earnings, doubling of interim dividend
Its net profit for the first half jumps from S$91.2 million previously to S$301.6 million
[SINGAPORE] Shares of property developer City Developments Ltd (CDL) jumped as much as 11.2 per cent or S$0.88 to S$8.74 at the opening bell on Thursday (Aug 13).
The group announced pre-trading that its results for the first half of the year ended Jun 30 trebled to S$301.6 million, from S$91.2 million in the year-ago period.
The jump was driven by robust performance in its property development segment, notably full revenue and profit recognition from Lumina Grand – a 512-unit executive condominium in Bukit Batok – which obtained its temporary occupation permit in April.
Revenue for the six months grew 61.1 per cent to S$2.72 billion, from S$1.69 billion in H1 FY2025.
The board declared a tax-exempt one-tier interim dividend of S$0.06 a share, double the S$0.03 a share declared in H1 FY2025.
