Check out how CDL raised its PATMI by 48% to S$203.8m

All to do with disposal gains.

CDL’s 2Q13 PATMI increased 48% YoY to S$203.8m, mostly due to disposal gains from several industrial property assets, notes OCBC Investment Research in its market pulse update following CDL's latest results release.

CDL's 1H13 PATMI now cumulates to S$341.5m which makes up 49% of OCBC's full year forecast.

"We judge this to be mostly in line with our expectations. Residential sales performances remain firm, with 2013 launches D’Nest, Bartley Ridge and Jewel@Buangkok showing healthy sell-through rates to date," reckons OCBC.

In 2H13, CDL is expected to launch a mixed use JV project at the junction of Upper Serangoon Rd and MacPherson Rd near Potong Pasir MRT.

Hotel subsidiary Millennium and Copthorne Hotels’ (M&C) 2Q13 PATMI decreased 17.7% YoY as 181k net rooms were taken out of the supply due to enhancement works. 1H13 global REVPAR, however, was up 4.1% to GBP71.27; AOR and ARR increased by 0.7 ppt and 3.1%, respectively.

The group also announced a special interim dividend of 8 S-cents per share.

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