Singapore Land Group FY2025 PATMI slips 4% to S$272m as fair value gains ease, despite record S$783m revenue and 16% rise in underlying profit
Summary:
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Full-year revenue rose 7% to S$783.1 million, driven mainly by a 22% increase in property investment income and higher technology revenue, offsetting lower development and hotel takings.
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PATMI declined 4% to S$272.3 million as total fair value gains on investment properties fell to S$45.9 million from S$65.3 million and other gains swung to a S$3.0 million loss from a S$21.6 million gain, even though PATMI before fair value and other gains grew 16% to S$242.8 million.
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Profit before income tax slipped 3% to S$349.8 million, but operating performance strengthened with gross profit up 15% to S$369.4 million and share of associates’ results climbing 39% to S$44.8 million, while joint-venture losses narrowed.
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The balance sheet remained robust with total equity increasing to S$9.26 billion and NAV per share rising to S$6.01 (NTA S$5.97), supported by higher investment property values from the acquisition of 388 George Street and ongoing enhancement of Singapore Land Tower and Clifford Centre.
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Net operating cash flow rose to S$279.4 million, funding S$408.4 million of investment property capex and loans to associates; group borrowings increased to S$555.8 million, but are fully unsecured and backed by substantial unencumbered assets.