Frasers Property - DBS Research 2024-11-15: Crouching Tiger, Hidden Dragon

• Frasers Property reported FY24 attributable net profit of S$206.3mil (+19.2% y-o-y) despite the rise in interest costs. This was on the back of 6.8% y-o-y and 3.0% y-o-y rise in revenues and profit before interest and taxes (PBIT).

Stronger performance contributed by residential project recognition

• - Read this at SGinvestors.io -
• Operationally, Frasers Property’s recurring income base (from logistics & Industrial in EU and AU, SG commercial) continued to return steady returns.
• While Frasers Property reported S$198.6mil in fair value losses, largely stemming from commercial properties in Australia and the UK driven by higher capitalisation rates, this offset positive fair value adjustments for the group’s Singapore, Thailand/Vietnam and Industrial properties in Europe and Australia.
• - Read this at SGinvestors.io -

Net Debt/Equity ratio rose by 7.6 percentage points

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2024-05-14 Frasers Property - Down But Not Out.

Price targets by other brokers at Frasers Property Target Prices.

Listing of research reports at Frasers Property Analyst Reports.

Relevant links:
Frasers Property Share Price History,
Frasers Property Announcements,
Frasers Property Dividend Payout Dates & Corporate Actions,
Frasers Property News