Frasers Property's full-year earnings rise 19.2% on overseas gains

Frasers Property, Singapore's third-largest listed developer controlled by Thai billionaire Charoen Sirivadhanabhakdi, saw full-year earnings rise 19.2 per cent, led by higher residential contributions from China and Australia.

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Net profit climbed to $206.3 million in the fiscal year ended Sept 30, the company said in an exchange filing on Nov 13. That compared with $173.1 million reported in 2023.

The profit jump was also helped by valuation gains on Singapore properties and industrial and logistics real estate in Europe and Australia, although they were partially offset by valuation losses on commercial assets in Britain and Australia. Revenue rose almost 7 per cent to $4.2 billion from a year earlier, beating a consensus analyst estimate of $3.65 billion.