{"id":33711,"date":"2016-11-10T11:00:03","date_gmt":"2016-11-10T04:00:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/"},"modified":"2016-11-10T12:32:50","modified_gmt":"2016-11-10T05:32:50","slug":"capitaland-q3-net-profit-up-28-to-247-5-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-q3-net-profit-up-28-to-247-5-million\/","title":{"rendered":"CapitaLand Q3 net profit up 28% to $247.5 million"},"content":{"rendered":"


\nEarnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand)
\nProperty developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.
\nGroup revenue during the period also jumped 27.7 percent to $1.374 billion.
\nIn an SGX filing, the group attributed the increase to higher contributions from CapitaLand\u2019s residential business in China and Singapore, shopping malls in Malaysia and China, its commercial portfolio in Singapore, and newly acquired serviced residences.
\nThe residential projects which contributed to higher revenue in Q3 included The Nassim and Cairnhill Nine in Singapore, New Horizon in Shanghai, Vermont Hills in Beijing and Riverfront in Hangzhou.
\nEarnings before interest and tax (EBIT) also rose 7.7 percent year-on-year to $494.4 million in Q3, with Singapore and China remaining as key contributors.
\nLooking ahead, Lim said the group will continue to grow its assets under management through capital recycling, portfolio optimisation, fund management and management contracts.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CapitaLand Q3 net profit up 28% to 7.5 million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Earnings grew on higher contributions from its residential business in China and Singapore. (Photo: CapitaLand)...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33711","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8LJ","jetpack-related-posts":[{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":33711,"position":0},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101234,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-rose-13-6-in-q3\/","url_meta":{"origin":33711,"position":1},"title":"CapitaLand\u2019s net profit rose 13.6% in Q3","date":"November 14, 2018","format":false,"excerpt":"\r View of The Nassim condominium project. CapitaLand\u2019s net profit for the third quarter of 2018 rose 13.6 percent to $362.2 million from $206.3 million in Q3 2017, on account of higher operating profit and gains from asset recycling. Operating profit for Q3 2018 increased 13.3 percent to $233.7 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-drops-89-in-1h-2020\/","url_meta":{"origin":33711,"position":2},"title":"CapitaLand profit drops 89% in 1H 2020","date":"August 7, 2020","format":false,"excerpt":"\r With COVID-19 pandemic adversely affecting its financial performance, CapitaLand Limited\u2019s profit after tax and minority interest (PATMI) plunged 89%, to $96.6 million in the first half of 2020 from $875.4 million over the same period last year. Operating PATMI also declined 27.7% year-on-year to $261.2 million.\u00a0 In an SGX\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86932,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-net-profit-down-18-8-on-absence-of-one-off-gain\/","url_meta":{"origin":33711,"position":3},"title":"CapitaLand net profit down 18.8% on absence of one-off gain","date":"May 2, 2018","format":false,"excerpt":"\r Net profit fell due to the absence of a $160.9 million gain from the sale of The Nassim a year ago. CapitaLand\u2019s net profit for the first quarter of 2018 fell 18.8 percent to $319.1 million, primarily due to the absence of a $160.9 million gain from the sale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-net-profit-sinks-36-6-in-q2\/","url_meta":{"origin":33711,"position":4},"title":"CapitaLand\u2019s net profit sinks 36.6% in Q2","date":"August 4, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Cairnhill Nine in Singapore. Source: CapitaLand Property giant CapitaLand has reported a net profit drop of 36.6 percent to S$294 million in Q2 2016, due to lower fair value gains from revaluation of properties, partially mitigated by improved operating performance. However, group revenue rose 9.7 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-revenue-up-35-3-on-higher-residential-sales-in-china\/","url_meta":{"origin":33711,"position":5},"title":"CapitaLand revenue up 35.3% on higher residential sales in China","date":"August 8, 2018","format":false,"excerpt":"\r CapitaLand is one of the largest property companies in Asia. CapitaLand\u2019s revenue surged 35.3 percent year-on-year to $1.34 billion in Q2 2018, while net profit increased 4.4 percent to $605.5 million, according to an SGX filing on Wednesday (8 Aug). The strong growth in revenue is attributed to higher\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33711"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33711"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33711\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}