(MENAFN) Property developer CapitaLand Ltd said that its profit after Tax and Minority Interests (PATMI) rose dramatically by 187 percent for the fourth quarter of 2014, Xinhua reported.
Southeast Asia's largest property developer posted a PATMI of USD303.3 million for the quarter, while its PATMI for the whole financial year of 2014 increased 38.2 percent on-year to USD859.3 million.
The good performance is mainly due to improved operating PATMI, higher revaluation gains from investment properties and lower portfolio losses, partially offset by higher impairments, CapitaLand said.
The group's operating PATMI for FY 2014 rose 40.4 percent to USD522.4 million on year, while its revenue also increased 11.8 percent to USD2.90 billion for the 2014 financial year.
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