SINGAPORE (EDGEPROP) - Frasers Property Limited reported a 17.8% y-o-y increase in attributable profit to $243.1 million for the financial year ended 30 September 2025, despite a 19.2% drop in revenue to $3.4 billion and a 12.3% decline in profit before interest, fair value change, tax and exceptional items (PBIT) to S$1.19 billion. The earnings boost was driven by net fair value gains from build-to-core development completions, divestments, and a reversal of tax provisions, which offset lower residential contributions due to project timing and impairments in China, Thailand, and the UK.

The group's recurring income base remained resilient, with 86% of PBIT derived from income-generating assets, supported by active asset and portfolio management, positive rental reversions, and strategic divestments. Net asset value per share fell to $2.37, mainly due to currency translation losses, while net debt to total equity rose to 89.2% following acquisitions, capital expenditure, and the privatisation of Frasers Hospitality Trust.

Frasers Property has proposed a first and final dividend of 4.5 Singapore cents per share for FY 2025, maintaining the same level of dividends paid for FY2024.

Looking ahead, Frasers Property is focused on three pillars for sustainable value creation: increasing development exposure for better risk-adjusted returns, driving recurring income through active management, and enhancing capital efficiency via asset recycling and partnerships. The group continues to expand its residential and industrial development pipeline, with $1.4 billion in unrecognised revenue and over 21,700 pipeline units. ESG integration remains a priority, with over 76MW of renewable energy installed and 78% of suppliers engaged in sustainability training.

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CEO Panote Sirivadhanabhakdi stated, "We remain on strategy, guided by our integrated investor-developer-operator model that enables us to adapt and execute across cycles... We recognise the challenges ahead. We are taking disciplined steps to strengthen performance and protect value, with a clear focus on delivering near-term outcomes, while staying committed to our long-term goals."

In a separate filing to the Singapore Exchange, Frasers Property disclosed corporate actions for the second half of 2025, including the acquisition of minority interests in four German logistics property holding companies for approximately EUR 2.97 million ($4.33 million). These acquisitions, completed through its subsidiaries, increase Frasers Property's stake in each company to 10.1% with the remaining 89.9% held by Frasers Logistics & Commercial Trust. The purchase price was negotiated on a willing-buyer, willing-seller basis and paid in cash, reflecting the adjusted net asset value of the companies as of July 2025.

Additionally, Frasers Property completed the disposal of its entire interest in Northpoint City (South Wing) via the sale of units in North Gem Trust and shares in Frasers Property North Gem Trustee Pte. Ltd. to Frasers Centrepoint Trust for a total consideration of about $187.6 million, based on an agreed property value of $1,133 million.

The group also incorporated several new subsidiaries and associated companies in Singapore and the Netherlands, focusing on investment holding, real estate development, and renewable energy operations. These transactions are not expected to materially affect the group's net tangible assets or earnings per share for the current financial year.