Singapore Land H2 profit down 11% at S$160.9 million; declares dividend of S$0.045 per share

[SINGAPORE] Property developer Singapore Land Group posted a 11 per cent fall in net profit for H2 2025 to S$160.9 million from S$180.5 million in the previous corresponding period.

In a regulatory filing on Wednesday (Feb 25), the mainboard-listed subsidiary of UOL Group reported a 6 per cent increase in revenue for the second half of 2025 to S$414.9 million from S$390.5 million previously.

The growth in revenue was mainly driven by property investments, which had contributions from a newly acquired commercial building in Sydney, Australia, and improved performance of Singapore assets.

This increase, however, was partially offset by the absence of property development revenue in the second half and lower hotel revenue from Pan Pacific Singapore and Parkroyal Collection Marina Bay.

Higher selling and distribution costs, up 21 per cent at S$18.8 million, was due to rebranding initiatives and costs incurred for an office showsuite for the new Clifford Centre building. Finance expenses were also higher, up 28 per cent at S$10.6 million in H2.

These factors resulted in lower earnings for H2 2025. Earnings per share for the period was at S$0.112, a drop from S$0.126.

Singapore Land posted a 4 per cent year-on-year drop in its net profit for the full year (FY) ended Dec 31, 2025, to S$272.3 million from S$284.2 million. previously.

Revenue for the FY was up 7 per cent at S$783.1 million.

The increase in turnover is also due to higher contributions from the purchase of the commercial building at 388 George Street in Sydney and an improved performance by its Singapore assets – particularly Singapore Land Tower, Marina Square and West Mall.

Higher demand for computer hardware and software solutions in its technology operations also played a part in raising revenue.

However, administrative expenses rose by 11 per cent to S$57.2 million, while finance expenses climbed 23 per cent to S$21.2 million.

These were attributed to salary increments and higher professional fees for the outsourcing of services, as well as elevated interest rates and increased borrowing to fund the Sydney acquisition.

In contrast, the group saw a 39 per cent rise in its share of results from associates, reaching S$44.8 million.

This was supported by higher contributions from Mandarin Oriental Hotel and residential projects such as Watten House and Parktown Residence.

However, this was partially offset by lower contributions from the Watergardens at Canberra, which had its profits fully recognised after obtaining its temporary occupation permit in December 2024.

The group also saw its share of loss from joint ventures (JVs) decrease to S$11.5 million from S$16 million, mainly due to a lower share of fair-value loss on a JV’s investment property and the write-back of excess contingency from The Tre Ver residential project.

Earnings per share fell to S$0.19 from S$0.198 for the year-ago period.

The board has recommended a first and final dividend of S$0.045 per share for the financial year, which is subject to shareholders’ approval at the forthcoming annual general meeting on April 30, 2026.

Shares of Singapore Land closed down 1.6 per cent or S$0.06 to S$3.75 on Wednesday.