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CapitaLand Quarterly Profit Rises 14% to S$438.7 Million

CapitaLand Ltd., Southeast Asia’s biggest developer, said second-quarter profit rose 14 percent as it posted higher earnings from its key businesses and recorded gains from investment properties.

Net income increased to S$438.7 million ($352 million) in the three months ended June 30 from S$383.3 million a year earlier, the Singapore-based developer said in a stock exchange statement today. Excluding the gain from the sale of its stake in Australand Property Group and contributions from the Australian developer last year, earnings would have risen 32 percent, it said. Revenue fell 13 percent to S$875.3 million.