Link: https://links.sgx.com/1.0.0/corporate-announcements/IGKBK0JJ506NBJNJ/9a912067bcc0fa31c2f0d492aebc932efcafb8aba417ea395f1c45c9557756e5

Summary:

• Revenue climbed 13% year-on-year to S$468.7 million for the half-year ended 30 September 2025, led by wholesale and retail segment growth across Singapore, Southeast Asia, and North East Asia.

• Net profit after tax rose 11% to S$34.4 million, with profit attributable to shareholders up 10% to S$30.5 million. Gross margin held steady at 31.8%.

• Operating expenses increased by 13%, mainly from higher staff costs, rental expenses, depreciation, and foreign exchange losses.

• Cash and cash equivalents declined to S$115.3 million due to increased inventories and expansion efforts; bank borrowings rose by S$9.2 million.

• Net asset value per share reached 267.2 Singapore cents, up from 263.0 cents at March 2025.

• No interim dividend was declared as per company practice, but the board remains cautiously optimistic about profitability despite global uncertainty, a strong Swiss franc, and high gold prices.