Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Fri, 20 Mar 2020, 12:11 PM

 

City Developments Limited: FY19 Results Met Our Expectations

Author:   |    Publish date:


City Developments Limited’s (CDL) FY19 results were in-line with our expectations. Revenue fell 18.8% to S$3,428.7m due largely to lower contributions from residential projects in Singapore. However, PATMI inched up 1.3% to S$564.6m and this formed 97.6% of our FY19 forecasts.

For 4Q19, CDL’s revenue and PATMI jumped 20.1% and 12.5% YoY to S$946.9m and S$87.7m, respectively. A final and special dividend of 8 and 6 S cents per share was declared, similar to FY18. Including the interim DPS of 6 S cents, total FY19 proposed dividends amounted to 20 S cents per share, unchanged from FY18.

We will provide more details after the analyst briefing. Our last rating was a BUY with a S$12.02 fair value.

Source: OCBC Research - 26 Feb 2020

Share this
Labels: CityDev

Related Stocks

Chart Stock Name Last Change Volume 
CityDev 6.71 -0.28 (4.01%) 3,314 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
 
 

67  247  94  695 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Rex Intl 0.095-0.001 
 ESR-REIT 0.25-0.015 
 Genting Sing 0.65-0.015 
 Mapletree Com Tr 1.50-0.12 
 CapitaMall Trust 1.52-0.10 
 Interra Resou.. 0.042+0.001 
 SingTel 2.58-0.04 
 Medtecs Intl 0.095+0.005 
 AusGroup^ 0.021-0.003 
 China Medical 0.0020.00 

TOP ARTICLES

1. Board SIA Before The Plane Takes Off Collin Seow Remisier Blog
2. SIA - Time to board the flight VW Investments
3. Daily Futures Trading Strategy 3 April 2020 (Foreign Market) Futurescoin
4. SPH REIT - Challenges Ahead Simons Trading Research
5. The "Untold Story" of My Decision to F.I.R.E at Age 45 STE's Stocks Investing Journey
Partners & Brokers