Frasers Centrepoint net profit leaps by 43% to $181.4m in Q3

It cashed in on properties and hospitality division.

The property giant's careful execution of advancements towards growth and development are paying dividends for the company, resulting in a laudable third quarter showing.

New income streams from Australand, new hotels and the completion of the company's projects in China are only some of the moves which helped bolster the company's robust revenue, which rocketed by 157% to $1.01b.

“FCL’s performance this quarter continues to reflect the benefits of our acquisition of Australand, which has brought us new income streams that enlarge our recurring income base. The completions of Twin Waterfalls EC in Singapore and Gemdale Megacity Phase 2A in China also boosted our results," a report from Frasers Centrepoint said.

However, Frasers Centrepoint is not letting its recent success get in the way of more future growth for the company.

"With the addition of the Malmaison and Hotel du Vin group of boutique hotels to our hospitality portfolio in June 2015, our hospitality division is well-positioned to improve its contribution to FCL’s performance moving forward,” the report added.

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