Frasers Property H1 profit falls 37.8% to S$88.4 million on impairment loss
Revenue for the half-year falls 5.2% to S$1.51 billion
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[SINGAPORE] Frasers Property posted a 37.8 per cent drop in net profit to S$88.4 million for its first half ended Mar 31, from S$142.2 million for the previous corresponding period.
This was mainly due to a S$38.2 million impairment on an investment in Thailand, the real estate group said on Friday (May 8).
Excluding a one-off reversal of tax provisions in the year-ago period, net profit would have risen 77 per cent year on year.
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