CapitaLand Q3 net profit inches up 1.3% to S$130m

Singapore

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 same period last year. The Q3 FY2013 net profit of S$128.3 million included S$12.45 million from discontinued operations.

First nine months net earnings improved 7.7 per cent to S$751.49 million from S$697.60 million previously. These figures are inclusive of profit from discontinued operations of S$35.36 million and S$78.84 million respectively.

Discontinued operations consist of profit contribution from Australand as well as gain from the sale of the balance 39.1 per cent stake in Australand of S$19.1 million for year-to-date September 2014. CapitaLand completed the sale of its balance Australand stake on March 24 this…