Back 29 Dec 2025

Infinity Development Delivers Double-Digit Earnings Growth, Boosted by Asia Footwear Demand and Dual Listing

Summary:

  • Revenue rose 13.4% to HK$835.2 million for the year ended 30 September 2025, driven by higher sales across all key markets, led by Vietnam, Indonesia and Bangladesh amid robust Asia-Pacific footwear demand

  • Gross profit increased 14.2% to HK$316.8 million, with profit attributable to shareholders up 21.7% to HK$122.2 million and basic earnings per share climbing to HK43.38 cents

  • Profit before tax grew 22.3% to HK$149.0 million, supported by a turnaround in other gains and losses to a HK$5.7 million net gain, largely from foreign exchange gains on the stronger US dollar

  • The group maintained a strong balance sheet with total assets of HK$846.1 million, equity of HK$628.3 million, cash and bank balances of HK$296.0 million, and no bank loans outstanding as at 30 September 2025

  • Operating cash flow was robust at HK$138.3 million, offset by HK$76.3 million used in investing activities (mainly HK$61.7 million of capex) and HK$102.3 million used in financing, including HK$59.2 million in dividends and full repayment of HK$39.0 million of bank loans

  • The board declared total dividends of HK$59.2 million for FY2025 (interim HK10.2 cents and final HK10.8 cents per share), and has proposed a further final dividend of HK10.3 cents per share for approval, continuing a rising payout trend

  • Net asset value per share increased to HK223.05 cents from HK207.18 cents, reflecting higher retained earnings despite substantial dividend distributions and elevated capital expenditure

  • Asia remains the revenue backbone: Vietnam contributed HK$495.8 million, Indonesia HK$126.9 million, Bangladesh HK$100.5 million, the PRC HK$101.5 million and India HK$10.5 million, with one major customer accounting for about 20% of group sales

  • Infinity completed a dual listing on SGX Catalist on 3 December 2025, issuing 35.1 million new shares at HK$2.335 (S$0.39), and confirmed that the switch from HKFRS to IFRS resulted in no material financial adjustments

  • The group continues to invest heavily, with HK$91.4 million of additions to property, plant and equipment, and expanded non-current assets across Indonesia, Vietnam, the PRC and Macau to support growth in adhesive products for global footwear manufacturers

  1. https://links.sgx.com/1.0.0/corporate-announcements/XD33VB268T02JJRE/cbdc595d08c47859938d3ee5ce2a099eed6b94ad4a6a540e44bdd92a7dfc869f