Frasers Centrepoint profit shoots up in Q3

Bedok Point, one of the malls owned by Frasers Centrepoint Malls.
Bedok Point, one of the malls owned by Frasers Centrepoint Malls.PHOTO: FRASERS CENTREPOINT MALLS

SINGAPORE - Third-quarter net profit rose 18.4 per cent to $182.4 million, Frasers Centrepoint (FCL) said on Monday.

Quarterly revenue soared 105 per cent to $1.4 billion for the three months to June 30.

The firm said the main driver was its Australia strategic business unit and international business division.

Quarterly earnings per share was 6.26 cents, compared with 5.31 cents a year earlier. Net asset value a share was $2.36 as at June 30, compared with $2.30 as at Sept 30.

Group chief executive Panote Sirivadhanabhakdi, said: "Our results continue to validate our longstanding strategy of growing our asset portfolio across select geographies and property segments, with the aim of achieving sustainable earnings, while capturing opportunities across property cycles."