FRASERS Property’s net profit rose 8.3 per cent to S$120.4 million for its second quarter ended March 31, from S$111.1 million a year ago, mainly supported by the timing of sales and settlements of development projects in Australia, it said on Friday morning before the market opened.
The group said it benefited from the first full half-year contribution from its business park portfolio in the UK, as well as contributions from Frasers Tower and the south wing of Northpoint City in Singapore. It also recognised profits from residential developments after project completions and settlements, mainly from Australia and China.Revenue for Q2 increased 11.1 per cent to S$934.3 million, from S$841.1 million in the previous year.The board declared a 2.
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