CLI’s PATMI down 19% to $351m in H1

The PATMI was attributed to improved operating performance in most sectors.

CapitaLand Investment Limited (CLI) posted a total of $351m PATMI in the first half of 2023 a nearly 20% decline from $433m in the same period last year.

In a financial statement, CLI said the PATMI has an improved operating performance in most sectors in the face of high interest rates, which is mitigated by lower portfolio gains.

CLI’s operating PATMI stayed resilient at $344m for H1 2023, supported by higher earnings from the lodging business all over markets and lower operating expenses, partially mitigated by higher interest costs and the absence of event-driven performance fees from two private funds exited in H1 2022.

It posted a revenue of $1.345b for H1 2023 which was marginally lower year-on-year due to lower contribution from the Real Estate Investment Business (REIB), partially mitigated by higher Fee Income-related Business (FRB). 

The lower REIB revenue of $932m was due to loss of contribution from properties divested in 2022 and lower contribution from properties in China.