Frasers Property's FY 2024 profit rises 19.2% to $206.3m on global gains

Its residential properties in China and Australia posted higher contributions.

Frasers Property Limited's net profit rose 19.2% YoY to $206.3m in FY 2024 on higher contributions from its residential properties in China and Australia.

Net fair value gains in Singapore properties and industrial and logistics assets in Australia and the EU helped the company offset substantial unrealised losses from specific commercial properties in the UK and Australia.

Apart from higher attributable profit, the company also reported a revenue of $4.2b, up 6.8% YoY.

With improved profits, the company proposed a first and final dividend of $0.045 for FY24, unchanged from FY23.

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