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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly