CDL is planning to launch New Futura, a high-end project on Leonie Hill Road in the Orchard Road vicinity. This freehold, 124-unit project features two iconic 36-storey towers with stunning architecture and comprises two to four-bedroom apartments and five-bedroom penthouses.
Hong Leong Group
First Half 2017
Results
1H & Q2 Results Of Selected Companies of
Hong Leong Group
City Developments Limited
For Q2 2017 and 1H 2017, CDL achieved revenue of S$854.1 million (Q2 2016: S$1.1 billion) and S$1.6 billion (1H 2016: S$1.8 billion), and attributable profit after tax and non-controlling interests (PATMI) of S$109.9 million (Q2 2016: S$133.8 million) and S$195.3 million (1H 2016: S$239.1 million).
The company also announced the resignation of Mr Grant Kelley, who has served as CDL CEO for more than three and a half years. He will be taking up new challenges as the CEO of Australia-listed Vicinity Centres, a real estate investment trust company based in Melbourne, Australia. Mr Kelley will remain at CDL until 31 December 2017.
The company has appointed its Deputy CEO Mr Sherman Kwek as CEO-designate. His promotion is in line with CDL Board’s succession plan, put in place since April 2016, to ensure continuity of leadership with the senior management team. Mr Kwek will assume full responsibilities as the CEO of the Company from 1 January 2018.
Millennium & Copthorne Hotels plc
Grand Millennium Auckland is New Zealand’s largest hotel and was added to the M&C portfolio at the end of 2016. The property contributed the bulk of the growth in Australasian RevPAR.
In constant currency, the Group revenue increased 4.3% to £485 million in H1 2017 (H1 2016: £465 million) and 6.1% to £262 million in Q2 2017 (Q2 2016: £247 million), with increased contributions from hotel trading and property, and offset by reduced revenue from CDL Hospitality Trusts. RevPAR also grew by 4.9% during the first six months of 2017, with increases in occupancy and average room rate of 3.0% and 0.5% respectively.
CDL Hospitality Trusts (CDLHT)
The first five-star hotel in Manchester, UK, The Lowry Hotel was recently acquired by the group in May, leading to inorganic growth this quarter.
CDLHT net property income increased by 11.4% to S$34.9 million and total distribution to Stapled Securityholders grew 12.6% to S$24.9 million for the second quarter of 2017. DPS for 1H 2017 was 4.10 cents and the new Stapled Securities in relation to the rights issue are also entitled for distribution for 1H 2017.
Hong Leong Finance (HLF)
Economic uncertainties and volatility continued into the first half of 2017, as Hong Leong Finance adopts a risk- and customer-focused approach, such as rolling out new SME loan programmes to help SMEs in their cash-flow management.
HLF posted net profit of S$20.8 million in Q2 2017, up 89.1% from the same period a year ago. Net interest income and hiring charges rose 25.3% to S$42.6 million. Annualised earnings per share worked out to 18.78 cents, up from 9.95 cents a year ago. An interim dividend of four cents per share will be paid out on Sept 12, up from three cents in the corresponding quarter last year.
First Sponsor Group
The sales performance of First Sponsor’s Millennium Waterfront development in Chengdu has been positive, with over 99% of the aggregate 7,302 residential units sold.
First Sponsor Group posted 8.8% net profit increase to S$9.4 million for Q2, from S$8.6 million a year ago. For the first half of the year, net profit was up 13.3% to S$23.6 million as revenue surged 54.1% to S$135.3 million. An interim dividend of 1 Singapore cent per share, unchanged from last year, will be payable on Sept 20.
