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CAPITALAND, South-east Asia's largest developer, said on Friday its fourth quarter net profit rose 49 per cent from a year ago due to revaluation gains and higher profits from projects in Singapore and abroad.
The firm posted net profit of $674.7 million for the three months to Dec 31 compared with a revised $453.5 million in the same period a year ago, and was above the average forecast of $350 million by five analysts polled.
CapitaLand's earnings for the full year rose 173 per cent to $2.8 billion, beating the $2.2 billion mean forecast of 14 analysts polled by Reuters Estimate.
Looking ahead, CapitaLand said the outlook was cloudy due to weakness in the United States economy and the tight credit environment. -- REUTERS
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