Frasers Property Limited’s attributable profit grew 42.8% in H1

It went up to $225.8m in the first half (H1) of fiscal year 2023.

Improved earnings from Singapore and China residential developments contributed to the growth of Frasers Property Limited’s earnings in H1 FY2023, according to its financial statement.

The attributable profit went up 42.8% to $225.8m in H1 FY2023 from $158.2m in H1 FY2022.

Its revenue also posted yearly growth, registering $1.9b in H1 FY 2023, 15.6% up from $1.7b in H1 FY2022.

“Improved earnings from operations in 1H FY23 were partially offset by a net fair value loss compared to a net fair value gain in 1H FY22,” read the statement.

The group currently focuses on managing its risk exposures with higher inflation, interest rate hikes, volatile foreign currency movements, and potential asset repricing whilst being balanced in seeking opportunities that may arise.