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Frasers Property is off to a good start for the year

By Samantha Chiew

/ The Edge Singapore |

February 21, 2019 11:08 AM SGT

SINGAPORE (Feb 20): CGS-CIMB Research is maintaining its “add” call on Frasers Property with a target price of $2.08, following the announcement of the group’s 1Q earnings results.

Frasers Property reported a 76.1% y-o-y increase in its 1Q19 earnings to $145.6 million, along with a 44.7% jump in revenue to $1.08 billion. Profit before interest and tax (PBIT) was 50.7% higher y-o-y at $354.4 million.

The strong performance came largely from the group’s Australia residential and China operations, while 63% of 1Q19 PBIT came from recurring sources.

This article - Frasers Property is off to a good start for the year is originally from TheEdgeSingapore.com

Read also:

Frasers Property reports 68% rise in 3Q earnings to $334 mil on higher fair value change and exceptional items

Frasers Property to combine group's industrial and logistics operations in Australia and Europe with FLT in FY2020

Frasers Property Australia establishes new green bond and loan framework

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