Frasers Property’s attributable profit down by 42.6% in H1

It posted a $158.2m attributable profit amidst geopolitical tensions.

The attributable profit of real estate firm, Frasers Property, declined by 42.6% to $158.2m in the first half  (H1) of fiscal year (FY) of 2022 from $275.8m in the same period in 2021 amidst inflation and geopolitical tensions.

According to its financial statement, Frasers Property also earned a revenue increase of 7.5% to $1.68b in H1 FY 2022 from $1.56b in H1 FY 2021.

Frasers Property Group CEO Panote Sirivadhanabhakdi said they were able to increase the revenue by prioritising their portfolio resilience by its presence in the industrial and logistics sector.

“We are confident that Frasers Property is ready to take advantage of the gradual recovery and pursue growth opportunities arising from structural changes accelerated by the pandemic to deliver value,” Sirivadhanabhakdi said.