226 views
Logo from Frasers Property Limited

Frasers Property  warns of lower profits for FY23

The company expects fair value losses on a portion of its portfolio of investment properties.

Frasers Property Limited expects a “significant decrease” in its attributable profit for FY23 due to the expected fair value losses on a portion of its portfolio of investment properties, primarily its commercial assets in the UK and industrial and logistics properties in Europe.

In a bourse filing, Frasers Property said the "fair value losses are non-cash in nature and arose mainly due to higher capitalisation rates.”

Whilst expecting lower profits for FY23,  Frasers Property underscored that its overall business performance and core operating earnings have not been significantly impacted compared to the previous financial year.

“The group expects to remain profitable for FY2023,” the company said.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!