CapitaLand's Q3 net profit rises 1.3 per cent to $130 million

SINGAPORE - Property giant CapitaLand saw net profit rise 1.3 per cent to $130 million in the third quarter year-on-year, it said on Friday.

Revenue fell 4.3 per cent to $918.9 million for the three months to Sept 30 from the previous year.

It saw higher contribution from the shopping mall business, development projects in China and Vietnam, and lower finance costs.

Mr Lim Ming Yan, group chief executive of CapitaLand, said: "CapitaLand's business remains resilient as it continues to focus on building a well-diversified portfolio across integrated developments, shopping malls, serviced residences, offices and homes.

"With a simplified organisational structure, CapitaLand is well-positioned to execute its strategy and capitalise on the long-term urbanisation and consumerism trends in Asia."

Earnings per share was 3.1 cents in the third quarter, up from 3 cents the previous year.

Net asset value per share fell from $3.79 as at Dec 31 last year to $3.72 as at Sept 30 this year.

CapitaLand shares closed three cents up at $3.15 on Friday.

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