PROPERTY player City Developments Limited (CDL) posted a profit of S$113.5 million for its second half ended Dec 31, down 54.7 per cent from S$250.8 million in the previous corresponding period.
This translates to a basic earnings per share (EPS) of S$0.121 against an EPS of S$0.27 in the year-ago period.
H2 revenue fell 23.6 per cent on the year to S$1.7 billion, compared with S$2.2 billion previously, the group said on Wednesday (Feb 26).
The board is recommending a final dividend of S$0.08 per share for FY2024. Together with the special interim dividend of S$0.02 per share, paid in September 2024, this brings the total dividend for the year to S$0.10 per share – representing a dividend payout ratio of 47 per cent.
For the full year, CDL’s net profit stood at S$201.3 million, down 36.6 per cent from S$317.3 million in the year-ago period.
Its FY2024 revenue dropped 33.8 per cent to S$3.3 billion from S$4.9 billion in FY2023.
On Wednesday morning, the company called for a trading halt pending the release of an announcement.
Shares of CDL ended Tuesday 0.4 per cent or S$0.02 lower at S$5.12.
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