Frasers Centrepoint Limited said in its maiden 1Q FY 13/14 quarter ended 31 December 2013, revenue and PBIT surged 87% and 62% to $631.6 million and $176.2 million respectively from the previous corresponding period (1Q FY 12/13).
The increases were largely due to higher development property sales
across Australia, China, and the UK, as well as improved operational
performance from the hospitality segment. In line with FCL’s higher
PBIT, attributable profit (before fair value change and exceptional
items) grew 67% year-on-year to $119 million.
The group achieved robust growth
in 1Q FY 13/14, with solid performance across property and geographical
segments. Australia was the key growth driver this quarter and the
supply-demand dynamics in the market continues to validate their decision
to focus on Australia as one of FCL’s key markets.
No dividend was declared in this quarter. Investors who are looking for growth stock can consider on FCL as their share value is currently undervalue and there is more room for growth in this company as they are listed not long ago and investors are still on the side-line waiting for better news coming from FCL.