Ellipsiz 1H FY2026 profit from continuing ops down 64% to S$0.7m as costs rise; cash still strong at S$50.6m
Summary:
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Revenue from continuing operations grew 24% to S$34.6m, lifting gross profit 8% to S$6.3m, but higher selling and admin expenses cut operating profit to S$0.4m from S$0.9m.
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Profit before tax from continuing operations halved to S$0.7m (1HFY2025: S$1.7m), and profit attributable to shareholders from continuing operations fell 64% to S$0.7m; group EPS from all operations dropped to 0.40 cents from 2.13 cents after the prior year’s disposal gain.
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Total comprehensive income attributable to owners declined 48% to S$2.1m, though fair‑value gains on investment securities (S$1.8m) partly offset weaker operating performance and FX translation losses.
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The balance sheet remains asset‑light and cash‑rich: cash and cash equivalents were S$50.6m, with no bank debt, total equity of S$101.8m and NAV per share roughly unchanged despite a S$1.7m FY2025 final dividend.
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Distribution & Services Solutions stayed the main profit engine, while property investment, egg production and sports/recreation segments remained small and drag overall margins; management continues to run the egg farm at pre‑development stage and sees no goodwill impairment in the DSS unit.