CapitaLand's profits fell 8.7% to $135.5m

Blame it on lower portfolio gains.

According to a release, CapitaLand Limited achieved Group revenue of S$1.05 billion for the quarter ended 30 September 2013, up 52.5% year-on-year. The  performance is led by higher revenue from CapitaLand Singapore (CL Singapore), CapitaLand China (CL China) and CapitaMalls Asia (CMA), as well as higher sales from development projects in Australia and Vietnam.

PATMI was S$135.5 million, down 8.7% in 3Q 2013 due to lower portfolio gains. Operating PATMI rose 13.4% to S$101.8 million, driven by higher contribution from development projects in Singapore and China, as well as rental income from shopping malls. For YTD September, PATMI and Operating PATMI were up 5.9% and 32.8% to S$706.9 million and S$343.1 million respectively.

In Singapore, a total of 468 residential units (3Q 2012: 70 units), which amounted to a total sales value of S$560 million (3Q 2012: S$166 million), were sold. This brings the total number of residential units sold for the first nine months to 1,151 (YTD September 2012: 329 units), up more than three times from previously. This amounted to a total sales value of S$2.2 billion (YTD September 2012: S$633 million). 

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