Stock Track | CityDev Shares Plummet 3.52% as 2024 Earnings Miss Expectations

Stock Track

Apr 11, 2025

Shares of City Developments Limited (CityDev) plummeted 3.52% in early trading on Friday, following the release of the company's disappointing full-year 2024 financial results. The Singapore-based real estate company reported a significant decline in both revenue and net income, falling short of analyst expectations.

According to the latest financial report, CityDev's revenue for 2024 dropped 34% to S$3.27 billion compared to the previous year. Net income also saw a substantial decrease of 37%, coming in at S$190.8 million. The company's profit margin narrowed to 5.8% from 6.2% in 2023, while earnings per share (EPS) fell to S$0.21 from S$0.34 in the prior year. These results missed analyst estimates, with revenue falling 12% below expectations and EPS coming in 35% lower than projected.

Despite the current setback, analysts forecast a 9.5% average annual revenue growth for CityDev over the next three years, outpacing the expected flat growth in the broader Singaporean real estate industry. However, investors appear to be focusing on the immediate disappointing results, as reflected in the stock's sharp decline. The company's shares have already dropped 7.7% over the past week, indicating ongoing pressure on the stock price.

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The company's shares have already dropped 7.7% over the past week, indicating ongoing pressure on the stock price.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | CityDev Shares Plummet 3.52% as 2024 Earnings Miss Expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | CityDev Shares Plummet 3.52% as 2024 Earnings Miss Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-04-11 09:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of City Developments Limited (CityDev) plummeted 3.52% in early trading on Friday, following the release of the company's disappointing full-year 2024 financial results. The Singapore-based real estate company reported a significant decline in both revenue and net income, falling short of analyst expectations.</p>\n\n<p>According to the latest financial report, CityDev's revenue for 2024 dropped 34% to S$3.27 billion compared to the previous year. Net income also saw a substantial decrease of 37%, coming in at S$190.8 million. The company's profit margin narrowed to 5.8% from 6.2% in 2023, while earnings per share (EPS) fell to S$0.21 from S$0.34 in the prior year. These results missed analyst estimates, with revenue falling 12% below expectations and EPS coming in 35% lower than projected.</p>\n\n<p>Despite the current setback, analysts forecast a 9.5% average annual revenue growth for CityDev over the next three years, outpacing the expected flat growth in the broader Singaporean real estate industry. However, investors appear to be focusing on the immediate disappointing results, as reflected in the stock's sharp decline. The company's shares have already dropped 7.7% over the past week, indicating ongoing pressure on the stock price.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"C09.SI","symbol_name":"城市发展","start_time":0,"source_url":"","article_id":"1146349278","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146349278","pubTimestamp":1744333945,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of City Developments Limited  plummeted 3.52% in early trading on Friday, following the release of the company's disappointing full-year 2024 financial results. 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The company's shares have already dropped 7.7% over the past week, indicating ongoing pressure on the stock price.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}