Frasers Centrepoint has reported earnings of $771.3 million for FY2015, a 54% improvement over the earnings of $500.7 million in FY2014.
In the fiscal year ended September, revenue rose 61.7% to $3.6 billion, with the full year contribution from Australand, which was acquired in 2014 and renamed Frasers Property Australia in August.
For the hospitality business, the group recognised a full year result from Frasers Hospitality Trust, which was listed in July 2014, and maiden revenue from the newly acquired Malmaison Hotel du Vin Group in the United Kingdom.
During the year, the group sold Crosspoint mall in Beijing, China, and completed the Twin Waterfalls executive condominium in Singapore, Phases 2A and 2B of the Gemdale Megacity residential development in Songjiang, China, and Phase 3A of the Baitang One residential development in Suzhou, China.
The group also recorded a 93% increase in share of results of joint ventures and associates to $279 million, on the back of fair value gains recognised on One @ Changi City and Waterway Point.
Frasers Centrepoint says the property market will remain challenging with the weaker economic conditions. However, it will continue to grow its business and asset portfolio, and increase its capital productivity through real estate investment trusts, while unlocking value in its portfolio through asset enhancements.
Frasers Centrepoint has declared dividends of 6.2 cents for the full year period, on top of the interim dividend of 2.4 cents.
The counter closed 1.9% higher at $1.66.
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In the fiscal year ended September, revenue rose 61.7% to $3.6 billion, with the full year contribution from Australand, which was acquired in 2014 and renamed Frasers Property Australia in August.
For the hospitality business, the group recognised a full year result from Frasers Hospitality Trust, which was listed in July 2014, and maiden revenue from the newly acquired Malmaison Hotel du Vin Group in the United Kingdom.
During the year, the group sold Crosspoint mall in Beijing, China, and completed the Twin Waterfalls executive condominium in Singapore, Phases 2A and 2B of the Gemdale Megacity residential development in Songjiang, China, and Phase 3A of the Baitang One residential development in Suzhou, China.
The group also recorded a 93% increase in share of results of joint ventures and associates to $279 million, on the back of fair value gains recognised on One @ Changi City and Waterway Point.
Frasers Centrepoint says the property market will remain challenging with the weaker economic conditions. However, it will continue to grow its business and asset portfolio, and increase its capital productivity through real estate investment trusts, while unlocking value in its portfolio through asset enhancements.
Frasers Centrepoint has declared dividends of 6.2 cents for the full year period, on top of the interim dividend of 2.4 cents.
The counter closed 1.9% higher at $1.66.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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