Hong Fok’s H2 FY2025 net profit rises 14.1% to S$23.1 million; proposes dividend of S$0.01

[SINGAPORE] Hong Fok’s earnings for H2 FY2025 rose 14.7 per cent to S$23.1 million, from S$20.1 million in the year-ago period.

Revenue for H2 FY2025 fell 13.9 per cent to S$51.4 million, from S$59.7 million in H2 FY2024, based on the financial results filed on Friday (Feb 27) by the property player.

Earnings per share for H2 FY2025, consequently, rose to S$0.0360 from S$0.0313.

A first and final dividend of S$0.01 per share was proposed, and the quantum is unchanged from FY2024.

For FY2025, revenue decreased by 6 per cent to S$98.3 million from S$104.3 million in FY2024. This was mainly due to lower revenue from the sale of residential units in Concourse Skyline, which was partially offset by higher rental income from investment properties.

The revaluation gain was S$16.2 million for FY2025, 36.8 per cent higher than the S$11.8 million in FY2024 for its investment properties,

Earnings for FY2025 rose 20 per cent to S$28.5 million from S$23.7 million in FY2024

During the year, the company completed the acquisition of five units in International Building for S$27.8 million. This acquisition resulted in the group owning all the units in the building.

Net asset value per share stood at S$3.65 as at end-FY2025, up from S$3.61 as at end-FY2024.

The company said that rental income for investment properties in 2026 is likely to remain stable, while the Singapore office market is expected to remain resilient despite macroeconomic and political uncertainties.

Hong Fok will work towards higher-quality revenue through market segmentation discipline for its hotel, Yotel Singapore Orchard Road. It aims to protect margins through cost control, enhanced workforce stability, asset quality and guest experience.

It expects to continue recognising revenue from the sale of residential units in Concourse Skyline.

Shares of Hong Fok closed unchanged at S$0.83 on Friday before the results were posted.