CapitaLand's Q3 net profit up 48.3% to S$192.72m

REAL estate group CapitaLand's net profit for the third quarter surged 48.3 per cent to S$192.72 million from S$129.98 million a year ago.

This was mainly attributable to higher profit after tax and minority interests (Patmi) of S$163 million, better performance across all business units, as well as higher portfolio gains of S$20 million and revaluation gains of S$9 million.

Revenue rose 17.1 per cent year-on-year to S$1.08 billion on the back of higher contribution from development projects in China as well as higher rental revenue from shopping mall and serviced residence businesses. This was partially offset by lower revenue recognition from development projects in Singapore and Vietnam.

Earnings per share came to 4.5 Singapore cents, up from 3.1 Singapore cents in Q3 2014.

No dividend was declared.