CapitaLand, Singapore reports first nine months' profit of S$240.3 mln (US$ 135 mln)

The Group achieved a profit after tax and minority interest (PATMI) of S$141.7 million (US$ 79.6 mln) for the third quarter of 2002, more than double the S$66.2 million (US$ 37.2 mln) recorded for the second quarter of 2002.

The increase was due to improved operating performance from residential and serviced residences sectors, higher portfolio gains, and lower finance costs. Group turnover for third quarter 2002 was S$774.4 million (US$ 435.1 mln), comparable to the S$775.7 million (US$ 435.8)achieved in second quarter 2002. The year-to-date profit, as at end September 2002, stands at $240.3 million (US$ 135 mln).

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(source: CapitaLand)

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