Frasers Property H1 profit falls 37.8% to S$88.4 million on impairment loss

[SINGAPORE] Frasers Property posted a 37.8 per cent drop in net profit to S$88.4 million for its first half ended Mar 31, from S$142.2 million for the previous corresponding period.

This was mainly due to a S$38.2 million impairment on an investment in Thailand, the real estate group said on Friday (May 8).

Excluding a one-off reversal of tax provisions in the year-ago period, net profit would have risen 77 per cent year on year.