For its Australia unit, revenue and PBIT increased by 70% and 153% to $307 million and $55 million, respectively due to completions and settlements of residential projects - Hamilton project in Brisbane, Queensland, Clemton Park, Discovery Point, Fairwater and Connor at Central Park projects in Sydney, New South Wales, as well as Parkville project in Melbourne, Victoria, in the quarter.
Consequently, attributable profit before fair value change and exceptional items (APBFE) amounted to $71 million during the reporting quarter.
The board has declared an interim dividend of 2.4 cents.
Looking ahead, FCL says it will remain focused on growing its portfolio in a balanced manner across geographies and asset classes. In addition, the Group constantly looks at opportunities to optimise capital productivity and unlock value from its portfolio of investment properties via asset enhancement or injection of stabilised assets into its real estate investment trusts.
Shares of FCL closed 1 cent higher at $1.86 on Tuesday.
