FPL’s metrics are still “within acceptable levels” but the management remains focused on deleveraging and ensuring capital efficiency, says group CFO Loo Choo Leong at the results briefing on May 9.
Frasers Property reported strong growth in its bottom line for 1HFY2025 ended March 31, partly due to the reversal of provisions and stronger residential sales. As it tries to increase its development exposure in the medium to long term, FPL plans to stay focused on deleveraging its balance sheet.
In 1HFY2025, FPL’s attributable profit increased 147.6% y-o-y to $142.2 million. If one-off reversal of tax provisions were excluded, FPL’s bottom line would be 13% lower y-o-y due to higher interest costs. As at March 31, FPL’s net debt rose 3.5% h-o-h to $15.08 billion while its net debt to total equity ratio increased by 5.1 percentage points h-o-h to 88.5%.
