FRASERS Property on Friday said net profit for its 2019 financial year fell sharply, down 25.3 per cent to S$560.3 million due to lumpiness in development earnings.
The company proposed a final dividend of 3.6 Singapore cents, down from 6.2 Singapore cents the previous corresponding period. Taken with the interim dividend of 2.4 cents per share already paid, this will give a total distribution for the year of six Singapore cents per share.Revenue for the year ended Sept 30 was S$3.8 billion, down 12.2 per cent. It did not provide a breakdown of its latest quarterly results.The stock closed at S$1.82, up one Singapore cent before results were announced.
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