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CapitaLand Q3 net profit inches up 1.3% to S$129.98m

PROPERTY giant CapitaLand has reported net profit of S$129.98 million for the third quarter ended Sept 30, 2014, up 1.3 per cent from the year-ago period.

The Q3 FY2013 net profit of S$128.30 million had included S$12.45 million from discontinued operations.

Revenue was down 4.3 per cent to S$918.93 million.

The revenue drop was due mainly to lower revenue from the group's development projects in China held by subsidiaries, partly mitigated by higher revenue from its Singapore development projects as well as higher rental revenue from its shopping mall and serviced-residence businesses.

Earnings per share edged up to 3.1 Singapore cents in Q3 FY2014 from 3 cents in Q3 FY2013.

Net asset value per share dipped to S$3.72 as at Sept 30, 2014, from S$3.79 as at Dec 31, 2013.

The counter closed 3 cents higher on the stock market on Friday. CapitaLand announced its results after the close of trading.