SINGAPORE (May 10): Frasers Property announced 2Q18 earnings increased by 74.2% to $124.1 million, compared to $71.2 million in 2Q17.
Revenue for the second quarter ended March came in at $841.7 million from $705.8 million in the previous year, largely attributable to revenue recognition on sales settlements in China and Australia and maiden contributions from business parks in the UK.
Revenue from its Singapore Strategic Business Unit (SBU) increased by 12% to $197 million while PBIT increased by 17% to $99 million, due to higher revenue and PBIT from the group’s residential and commercial properties in Singapore, but was partially offset by lower contributions from Frasers Commercial Trust (FCOT) Singapore and Australia properties.
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