CDL reported net profit of S$129.7m for H2

Group swings into the black with a net profit of S$129.7m for H2, compared with a net loss of S$1.92b in the year-ago period

CDL surprises shareholders with distribution of CDLHT units

PROPERTY and hospitality group City Developments Ltd (CDL) is proposing to reward its shareholders with a total payout of 31.1 Singapore cents for FY2021, the bulk of it from a special distribution in specie amounting to 11.7 per cent of the units in CDL Hospitality Trusts (CDLHT).

This came as the group swung into the black with a net profit of S$129.7 million for its second half ended Dec 31, 2021, compared with a net loss of S$1.92 billion in the year-ago period.

Full-year 2021, the group posted a net profit of S$97.7 million, reversing the net loss of S$1.92 billion in FY2020.

The group plunged into the red in 2020 due to a S$1.78 billion...