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CapitaLand posts 28% rise in 3Q earnings to $247.5 mil on better operating performance

PC Lee
PC Lee11/9/2016 08:04 AM GMT+08  • 2 min read
CapitaLand posts 28% rise in 3Q earnings to $247.5 mil on better operating performance
SINGAPORE (Nov 9): Property group CapitaLand reported a 28.4% rise in 3Q earnings to $247.5 million from a year ago on better operating performance.
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SINGAPORE (Nov 9): Property group CapitaLand reported a 28.4% rise in 3Q earnings to $247.5 million from a year ago on better operating performance.

Operating PATMI grew 54.5% to $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.

In the three months to Sept, revenue rose 27.7% to $1.37 billion on the back of higher contributions from development projects in Singapore and China, higher rental income from commercial portfolio in Singapore as well as serviced residence business.

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