Covid-19 pushes Frasers Property into S$45m H2 loss, full-year gain down 66%

Singapore

LOCKDOWNS, travel restrictions and hotel closures - Frasers Property felt the full force of the Covid-19 pandemic, reporting a S$45.7 million loss for its second half, compared to hefty net earnings of S$294.3 million a year ago.

Consequently, for the full year ended Sept 30, profit was down two-thirds to S$188 million on 5 per cent lower revenue of S$3.6 billion. Revenue for the second half fell 18 per cent to S$1.5 billion.