1. Frasers Centrepoint&rsquo s revenue for the reporting quarter more than doubled from the same period a year ago. The company ended the quarter with S$898 million in revenue.
2. But, profit before interest, fair value change, taxation and exceptional items (that&rsquo s a mouthful!) grew by &lsquo just&rsquo 14.4% to S$226.5 million for the reporting quarter.
3. Furthermore, profit for the period was S$170.3 million, down 2.8% from the previous fiscal second-quarter. A big driver for this is that Frasers Centrepoint recorded a much lower fair value change on investment properties(S$43.2 million a year ago vs. just S$4.45 million).
4. Diluted earnings per share was 3.12 cents, down from the 4.56 cents recorded over the same quarter last year.
5. Fraser Centrepointhad S$201.7 million in operating cash flow for the reporting quarter. It spent S$114.2 million in capital expenditure. This gives the real-estate outfit free cash flow of S$87.5 million for the second quarter of FY15/16.
6. As of 31 March 2016, the company had S$1.48 billion in cash and equivalents and $10.7 billion in debt. This is slight decrease from the $1.37 billion in cash and equivalents and $10.3 billion in debt it recorded at the end of FY14/15.
7. The company also ended the reporting quarter with a net asset value per share of $2.22, up slightly from the $2.20 seen a year ago.

&ldquo Increasing the proportion of income from recurring sources has been one of our core strategies over the past few years. Our financial performance in the first half validates the effectiveness of this strategy.

FCL&rsquo s [Frasers Centrepoint Limited] growing base of recurring income underpinned our performance as contribution from our completed and largely sold development projects in Singapore tapered off, and timing differences in completions resulted in lower development contributions from Australia and China. We recently launched Parc Life EC in Singapore, and we also expect a significant level of completions in Australia and China in the second half of our financial year.&rdquo

Institutional shareholders