Serviced residences operator Ascott Group Ltd said third-quarter net profit fell 41 per cent on lower portfolio gains from divestments.Ascott, part owned by property developer CapitaLand Ltd, said net profit for the quarter ended Sept 30 was $34.1 million, down from $57.4 million a year ago.
Revenue increased 17 per cent to $116.5 million from $99.2 million.
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