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Frasers Property's Q1 net profit jumps 76% to S$145.6 million

Singapore

FRASERS Property posted a 76.1 per cent increase in its first quarter profit to S$145.6 million on the back of sales of residential development projects in Australia and China, as well as an enlarged base of recurring income assets.

Revenue came in at S$1.08 billion for the three months ended Dec 31, 2018 - 44.7 per cent higher than the S$748.6 million it chalked up a year ago.

The better financial performance was attributable to the sales and settlements of residential development projects...

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