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CapitaMalls Asia posts 40.7% increase in PATMI
Jul 27, 2012
by Cheryl Tay
CapitaMalls Asia Limited's profit after tax and minority interests (PATMI) for the second quarter jumped 40.7 percent to S$232.0 million, from S$164.9 million over the same period last year. The company also posted a 33.4 percent growth in earnings before interest and tax (EBIT) at S$283.8 million, up from S$212.8 million last year. "We are pleased to register a strong set of results for the second quarter of this year, continuing on from our healthy 36.1 percent growth in PATMI in the first quarter. In view of our strong performance in the first half of this year, we are pleased to declare an interim dividend2 of 1.625 Singapore cents per share," said Liew Mun Leong, Chairman of CapitaMalls Asia. Lim Beng Chee, CEO of CapitaMalls Asia noted that "the outlook for our key markets of Singapore, China and Malaysia remains positive, with retail sales expected to continue to grow." Lim said that Singapore will likely see better retail sales this year following increases in tourist arrivals and GDP growth, the latter from 1.0 to 3.0 percent. "Our malls in Singapore, China and Malaysia continued their strong performances in the first quarter of this year to the second quarter," he added.