Link: https://links.sgx.com/1.0.0/corporate-announcements/MWV2VFBUN1YPTLSV/5f0853b888ce1de0e5e20418629ff043915b48390da511eede69bdd085bba1ed

Summary:

• Far East Orchard reported a Profit After Tax of S$17.1 million for the first quarter of FY2025, significantly higher than the previous year, primarily due to a one-off gain from an acquisition.
• Revenue for the quarter decreased by 8.6% to S$46.5 million, and operating profit decreased by 4.4%, partly impacted by refurbishment at an Australian property.
• The UK Purpose-built Student Accommodation (PBSA) segment and property development (Woods Square) provided stronger profit contributions.
• The company expanded its lodging platform by completing the second acquisition for its PBSA development fund and opening its first hotel in Osaka, Japan.
• Operational PBSA assets in the UK achieved reservations close to 67% for the upcoming academic year, contributing to the Group's expanding portfolio of owned and managed beds.