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Frasers Property full-year profit falls sharply, down 25% to S$560.3 million

FRASERS Property on Friday said net profit for its 2019 financial year fell sharply, down 25.3 per cent to S$560.3 million due to lumpiness in development earnings.

The company proposed a final dividend of 3.6 Singapore cents, down from 6.2 Singapore cents the previous corresponding period. Taken with the interim dividend of 2.4 cents (2018: 2.4 cents) per share already paid, this will give a total distribution for the year of six Singapore cents (2018: 8.6 cents) per share.

The final dividend will be paid on Feb 18, 2020.

Revenue for the year ended Sept 30 was S$3.8 billion, down 12.2 per cent.  It did not provide a breakdown of its latest quarterly results.

Earnings per share was 15.84 Singapore cents, down from 23.03 Singapore cents.

The stock closed at S$1.82, up one Singapore cent before results were announced.

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