Net profit for the three months ended Sept. 30 was S$62.4 million, rising from S$36.5 million a year earlier, the Singapore-based company said in a statement. Revenue for the quarter rose 52.6% to S$102.1 million from S$66.9 million.
The developer reported a 21.5% increase in revenue under management to S$464.6 million from S$382.3 million.
" We remain bullish on the fundamentals of our shopping-mall business, as China continues to promote domestic consumption as a key driver of economic growth," CapitaMalls Asia Chief Executive Lim Beng Chee said in the statement. " We continue to be on the lookout for suitable acquisition opportunities to further grow our shopping-mall portfolio."
CapitaMalls Asia, a unit of Singapore real-estate group CapitaLand Ltd. (C31.SG), has a portfolio of 101 retail properties across Asia.
Write to Chun Han Wong at chunhan.wong@dowjones.com
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