By P.R. Venkat
CapitaLand Ltd.'s net profit in the first half rose more than 10-fold as the real estate markets in Singapore and China markets recovered from the pandemic's impact.
Profit came in at 922.2 million Singapore dollars (US$679.2 million), compared with S$96.6 million a year earlier, the Southeast Asia's largest property company by assets said Friday.
Revenue rose nearly 35% to S$2.73 billion.
"While we are encouraged by the progress achieved in 1H 2021, we are mindful that our businesses continue to face disruptions and uncertainties heightened by Covid-19," said CapitaLand chief executive Lee Chee Koon.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
08-12-21 1905ET