CapitaLand Investment drops 3.5% on lower H1 earnings

At the midday trading break, its shares were down by 4.3% at S$2.70 – their lowest price in more than a month

Shares of CapitaLand Investment (CLI) fell on Thursday (Aug 14) after the asset manager posted lower earnings for the first half-year that same day.

As at the midday trading break, CLI shares were trading at S$2.70, with around 9.5 million shares changing hands. This was 4.3 per cent or S$0.12 under its Wednesday closing price of S$2.82.

This was the counter’s lowest price in more than one month, as it last traded at such levels on Jul 11, ShareInvestor data showed.

Shares of CLI ended Thursday 3.5 per cent or S$0.10 lower at S$2.72 with 16.8 million shares transacted.

Before market open on Thursday, CLI posted a net profit of S$287 million for its H1 ended Jun 30, 13 per cent lower than S$331 million in the year-ago period.

Its earnings per share fell 11 per cent to S$0.058 from S$0.065 in H1 2024.

Revenue for H1 fell 24 per cent to S$1.04 billion from S$1.37 billion.

The declines were attributed to the deconsolidation of CapitaLand Ascott Trust (Clas) alongside the loss of contributions from divested assets in the US and China, the asset manager said.

This comes as the deconsolidation – in which Clas is no longer a CLI subsidiary and is now accounted as an associate – brought the asset manager’s revenue down by S$322 million.

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