City Developments Limited - SGX Company Insights Ep 45
Welcome to the Let the Money Talk podcast.
In this episode, Phillip Securities Research's analyst, Natalie Ong, reports on City Developments Limited – Promising turnaround
1. FY21 revenue of S$2.6bn grew 24.5% YoY, forming 106% of our forecast. PATMI underperformed due to higher-than-expected taxes, excluding which, performance would have been in line with our forecasts. PATMI returned to positive territory due to strong residential sales and recovery in the hospitality segment, which has turned EBITDA positive.
2. CDL sold 2,185 units in Singapore in FY21, 66% higher than FY20, with total…
The skinny
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