Annual profit around SGD 1 billion
Frasers Property has reported its financial results for its financial year ended 30 September 2022 (FY 2022). Panote Sirivadhanabhakdi, Group CEO, commented that the group was “able to deliver improved operating performance over the course of FY 2022."
Primarily industrial and logistics properties contributed to the result. A portfolio of industrial and logistics properties in Australia and Europe was reclassified fin FY 2021.
Excluding the impact of the unrealised valuation gain on change in use, PBIT for FY 2022 would have increased 16.9% year-on-year from SGD 1.07 billion to SGD 1.25 billion, while attributable profit would have increased 59.6% year-on-year from SGD 581.6 million to SGD 928.3 million.
In FY 2022, the group completed approximately 454,000 sqm of industrial and logistics, commercial and business parks, and retail development projects. Frasers Property expects to deliver around 697,000 sqm from its non-residential development pipeline, primarily in Australia, Thailand and Vietnam, in FY 2023. (sh)