CapitaLand says it posted a net profit of $591.5 million for the first six months of the year (1H2010) and a net profit of $476.1 million in 2Q2010. This compares to losses of $114.1 million in 1H2009 of $156.9 million in 2Q2009.
CapitaLand says the strong profit growth compared to the same period last year reflects a recovery in Singapore and the key markets it operate in. Excluding the impact of revaluations and impairments, 1H2010 net profit was $382.7 million, more than double compared to 1H2009 on the same basis.