SINGAPORE Nov 12 Singapore's City Developments
Ltd said on Tuesday its third-quarter net profit fell
10.4 percent to S$120.6 million ($96.58 million) from S$134.5
million a year earlier.
Profit for the first nine months of the year at the property
and hotel firm grew 7.7 percent on the year. For the first nine
months, the rental properties segment maintained its lead in
contributing to the company's pre-tax profit, followed by its
property development business.
Hotel operations reported lower profits for both the third
quarter and the first nine months of 2013, largely due to an
ongoing refurbishment programme and less favourable trading
conditions for some hotels in Asia, the company said.
CityDev's hospitality arm, Millennium & Copthorne Hotels PLC
, reported a 6 percent rise in pre-tax profit for the
third quarter, though the pre-tax profit in the first nine
months dropped 18 percent on the year. (link.reuters.com/buf64v)
For company statement, click
($1 = 1.2487 Singapore dollars)
(Reporting by Rujun Shen)