Temasek says net profit more than doubles
SINGAPORE: Singapore's state-linked investment firm Temasek Holdings said Thursday its net profit more than doubled in the year to March while the value of its global portfolio hit a record high.
Net profit for the year ended March 31 totalled Sg$13 billion ($10.6 billion), compared with Sg$5.0 billion the previous year which reflected the impact of the global financial crisis.
The company also reported a record year-end portfolio value of Sg$193 billion, up from Sg$186 billion.
Net profit surged "due to higher contributions from Temasek investment activities and improved profits from it's portfolio companies," Temasek said in a statement.
Total shareholder return was 4.6 percent during the financial year. Over a five-year period, total shareholder return stood at an average 7.0 percent, it said.
Copyright AFP (Agence France-Presse), 2011
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