SINGAPORE (Nov 9): City Developments reported a 10% y-o-y rise in 3Q18 earnings to $162 million. Revenue jumped 18% to $1.02 billion.

The better performance was largely due to higher residential development profits as well as a $12 million pre-tax gain from the sale of a property in Jalan Besar.

Gross profit margin held relatively steady at 47.8% in 3Q18 vs 49.5% in 3Q17.

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