Frasers Property Q3 net profit soars 68.2% on fair-value gains

FRASERS Property on Thursday posted a net profit of S$333.9 million in the third quarter, up 68.2 per cent from the same period a year earlier.

Revenue in the three months ended June 30 was S$638.8 million, down 53.1 per cent, due mainly to the timing of sales and settlements of development projects in Australia, Singapore and China. 

Fair-value change on investment properties was S$246.6 million, up from S$30.3 million in the same period a year earlier.

Earnings per share was 11.18 Singapore cents, up from 6.55 Singapore cents in the same period a year earlier.

Net asset value per share was S$2.59 as at June 30. 

The counter closed up five Singapore cents or 2.83 per cent to S$1.82 on Thursday before the results were released.