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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  City Developments Limited    CTDM   SG1R89002252

CITY DEVELOPMENTS LIMITED

(CTDM)
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City Developments : 3Q Revenue Exceeded Expectations -- Earnings Review

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11/12/2019 | 09:23pm EST

By Justina Lee

City Developments Ltd. (C09.SG) reported its third-quarter results late Tuesday. Here is what we watched:

REVENUE: Revenue for the quarter was 885.3 million Singapore dollars (US$650.0 million), 13% lower on year. The figure, however, exceeded S$864.1 million estimated in a poll by FactSet.

EPS: Third quarter earnings per share was at 12.7 Singapore cents, which was lower than the S$0.15 estimated by Factset.

WHAT WE WATCHED:

--SINGAPORE MARKET: City Developments said that while the Singapore property market continued to face challenges due to the supply overhang, residential launches were achieving healthy sales.

--HOTEL OPERATIONS: The company said it was planning an internal restructuring of its hotel business to improve operational efficiency in light of slowing global growth and stiff competition in the hospitality sector.

--GLOBAL EXPANSION: City Developments said it would continue to pursue acquisition of development sites and investment properties in its core overseas markets of the U.K., China, Japan and Australia.

Write to Justina Lee at justina.lee@wsj.com

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Financials (SGD)
Sales 2019 3 598 M
EBIT 2019 784 M
Net income 2019 582 M
Debt 2019 5 387 M
Yield 2019 1,77%
P/E ratio 2019 18,4x
P/E ratio 2020 17,1x
EV / Sales2019 4,31x
EV / Sales2020 3,88x
Capitalization 10 112 M
Technical analysis trends CITY DEVELOPMENTS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 12,15  SGD
Last Close Price 11,15  SGD
Spread / Highest target 26,9%
Spread / Average Target 8,99%
Spread / Lowest Target -7,62%
EPS Revisions
Managers
NameTitle
Eik Tse Kwek Chief Executive Officer & Executive Director
Leng Beng Kwek Executive Chairman
Yim Ming Yiong Group Chief Financial Officer
Ivan Ng Chief Technology Officer
Leng Peck Kwek Non-Independent Non-Executive Director