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Frasers Centrepoint reports 90% jump in Q1 net profit

Michelle Quah
Published Thu, Feb 9, 2017 · 09:50 PM
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Singapore

INTERNATIONAL property group, Frasers Centrepoint Limited (FCL), yesterday reported a 90 per cent jump in its first-quarter net profit attributable to shareholders, on the back of a 45 per cent increase in revenue.

FCL said this was fuelled mainly by higher contributions from its Singapore strategic business unit (SBU) and its International business unit.

The group's net profit was up to S$188.0 million for the quarter ended Dec 31, 2016, from S$98.7 million the year before.

Included in this were exceptional gains of S$5.5 million, which came mainly from a gain on the step-up acquisition of equity interest in Thailand associate Golden Land Property Development P…

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