SINGAPORE: Property heavyweight CapitaLand reported on Wednesday (Nov 9) a 28.4 per cent rise to S$247.5 million in third quarter earnings from S$192.7 million in the year-ago period, driven by better operating performance.
Operating profit for the three months to Sept 30 jumped 54.5 per cent to S$251.8 million due to higher contributions from the group’s residential businesses in Singapore and China, commercial portfolio in Singapore, shopping malls in China and Malaysia, as well as newly acquired serviced residences.
Group revenue increased 27.7 per cent to S$1.37 billion on the back of higher contributions from residential projects in Singapore and China, as well as higher rental income from its commercial portfolio in Singapore and serviced residence business.
