Frasers Centrepoint's net profit down 7% to $99.4m in Q1

Due to higher financing and hedging charges.

Frasers Centrepoint reported that its net profit slipped 7% year-on-year to $99.4m in the first quarter.

The decline in attributable profit was caused by higher financing and hedging related charges.

During the reporting quarter, new streams of contribution from Australand Property Group and six hotels acquired by Frasers Hospitality Trust from the TCC Group helped to offset lower contributions from development projects in Australia and the United Kingdom.

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