[SINGAPORE] Singapore's CapitaLand Ltd , Southeast Asia's
largest property developer, said on Wednesday its fourth-quarter profit
slumped 45.6 per cent on the year on a one-off loss on divestment of
part of its Australand stake.
CapitaLand, which operates in Singapore and China among other countries, reported a profit after tax and minority interest (PATMI) of S$142.9 million for the October-December quarter.
The loss on the Australand Property Group stake sale in November also affected CapitaLand's full-year profit. Its 2013 PATMI dropped 8.7 per cent from a year earlier to S$849.8, undershooting an average forecast of S$976 million by five analysts polled by Reuters.
Operating PATMI, a gauge of profitability of core business, was S$527.7 million for the year, below a forecast average of S$555.7 million.
CapitaLand, which operates in Singapore and China among other countries, reported a profit after tax and minority interest (PATMI) of S$142.9 million for the October-December quarter.
The loss on the Australand Property Group stake sale in November also affected CapitaLand's full-year profit. Its 2013 PATMI dropped 8.7 per cent from a year earlier to S$849.8, undershooting an average forecast of S$976 million by five analysts polled by Reuters.
Operating PATMI, a gauge of profitability of core business, was S$527.7 million for the year, below a forecast average of S$555.7 million.
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