SINGAPORE (Aug 5): Frasers Centrepoint Limited (FCL) posted a 15% decline in its 3Q earnings to $154 million from $181.4 million in the same quarter a year ago, on the back of lower revenue.

Revenue fell 32% to $682.1 million from $1.01 billion a year ago, which was mainly attributable to lower contributions from the group's development portfolio in Singapore, Australia, and China.

In a Friday filing, FCL’s group CEO Lim Ee Seng claims that this quarter’s results attest to the importance of the company’s drive to “achieve sustainable earnings by growing income from recurring as well as overseas sources”.

Lim adds that the company expects stronger contribution from development income next quarter as several projects in Australia and China are due to be completed.

Shares of Frasers Centrepoint Limited closed 0.33% higher at $1.53.