Frasers Centrepoint hit by one-off items

Singapore

ONE-OFF items led net profit at Frasers Centrepoint Ltd (FCL) to fall 31 per cent to S$500.7 million for the full year ended Sept 2014. This was largely due to an exceptional loss of S$127 million this year, compared to a gain of S$46 million last year.

"The one-off expenses were largely due to the restructuring costs of S$42 million arising from the repayment of related company loans prior to FCL's listing, and Australand acquisition costs of S$70 million," said FCL.