CapitaLand's Q3 profit falls amid lower margin

DESPITE a surge in revenue in the third quarter, CapitaLand saw net profit fall 8.7 per cent to $135.5 million, from $148.5 million a year ago.

This works out to an earnings per share of 3.2 cents, compared with 3.5 cents from last year.

Revenue jumped 52.5 per cent year-on-year to $1.05 billion, led by higher contributions from most of its four core business units, as well as higher sales from development projects in Australia and Vietnam.

CapitaLand China quadrupled its revenue to $305.5 million in Q3, while CapitaLand Singapore's revenue grew 4.1 per cent to $252.3 million. CapitaLand Singapore sold 468 units for the quarter, with 433 units coming from the sale of…