Agent.sg / Property news / Frasers Property profits up 68.2% to $333.93m in Q3

Frasers Property profits up 68.2% to $333.93m in Q3

Its recurring income from rents has boosted its profits.

Today's news selection contains the latest real estate related storys. Do you own a real estate/property/finance blog or news site? Send the URL to [email protected] so our editors can use them as sources.


Frasers Property saw its profits climb 68.2% YoY to $333.93m in Q3 from $198.56m in 2018, despite the 53.1% YoY plunge in revenue to $638.81m from $1.36b.

The revenue decline was mainly attributable to the timing of sales and settlements of development projects in Australia, Singapore and China. These also dragged on the company’s profit before interest, fair value change, taxation and exceptional items (PBIT) by 25% to $269m over the same period. Recurring income sources have boosted its profits and offset the decline in revenue.

Revenue and PBIT of Frasers’ Singapore operations declined by $547m and $12m to $133m and $147m, respectively. Revenue and PBIT from Singapore residential properties went down to $2m and $10m, due to fewer settlements in Parc Life Executive Condominium and the absence of profit contributions from North Park Residences following its achievement of temporary occupation permit (TOP) in October 2018.


Read the full article here »


More real estate news from Singapore


Previous news selection:

Boon Keng 5-room flat sells for record S$1.2m in July, but HDB resale prices dip 0.2%


About Agent.sg Daily Property News Selection

Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.

Contribute

If you also want to share an amazing article that you come across and it fits in the real estate / economy topics, just let it us know in e-mail. We don't guarantee to publish all, but we will some of them for sure. If you want us to bring out your own article, please contact us at [email protected]. Some references would also be highly welcome to send us from among your previous publications.

Advertise

Are you looking for some online distribution channels? You find one. Haven't you found a place for your traditional means of advertisement, like PR article or display banner? You've never been so close, just e-mail us at [email protected] and our colleague will get in touch with you.