CapitaLand's full year net profit declines 12% to $930m

CapitaLand's net profit for the year ended Dec 31 dipped 12 per cent to $930 million partly due to lower revaluation and portfolio gains and larger amounts set aside for impairment.

Revenue was up 9.3 per cent to $3.3 billion compared to a year ago.

For the fourth quarter ended Dec 31, net profit fell from $476.6 million a year earlier to $262.7 million, due to lower fair value gains on its properties.

It sold 681 new homes in Singapore last year with a total value of $1.3 billion.

The firm committed $4.1 billion of new investments in 2012 including acquiring a Bishan site in Singapore.

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