Straits Trading's net loss in the second half of the fiscal year 2025 expanded to SGD 208.4 million | Lianhe Zaobao
I'm LongbridgeAI, I can summarize articles.Straits Trading's net loss for the second half of the fiscal year 2025 expanded to SGD 208.4 million, a significant increase from SGD 12.5 million in the same period last year, mainly due to one-time expenses and net fair value losses on real estate investments. Despite a 14% year-on-year revenue growth in the second half to SGD 355.8 million, the board still recommends a mid-term dividend of SGD 0.08 per share. The annual net loss widened from SGD 7.2 million to SGD 249.1 million, while annual revenue grew by 10.4% to SGD 623.3 million
Straits Trading's net loss in the second half of the fiscal year 2025 further expanded to SGD 20.84 million, significantly higher than the SGD 1.25 million in the same period last year. This was mainly due to one-off expenses and net fair value losses on investment properties. The group's revenue in the second half increased by 14% year-on-year to SGD 35.58 million.
The board of directors proposed a mid-term dividend of SGD 0.08 per share, to be paid on June 30, in line with the dividend for the fiscal year 2024.
The group released its performance for the second half and the full year as of the end of last year on Friday (February 27), showing that the net fair value change of investment properties in the second half of last year was a loss of SGD 43.9 million, in stark contrast to the SGD 7.7 million gain in the same period of the fiscal year 2024. The group pointed out that this was mainly due to fair value losses in its real estate in China, South Korea, and Australia.
For the full year, the group's net loss expanded significantly from SGD 7.2 million the previous year to SGD 24.91 million in fiscal year 2025. Full-year revenue increased by 10.4% year-on-year to SGD 62.33 million.
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In the second half of fiscal year 2025, the loss per share was SGD 0.444, far exceeding the SGD 0.028 in the same period last year.
However, Straits Trading emphasized that the losses incurred by the group "are of a non-cash nature and do not affect the group's operating cash flow."
Straits Trading's Executive Chairman Zhou Yuqin stated that fiscal year 2025 is a "watershed" for the group, marking a "prudent reassessment of our investment portfolio in a challenging operating environment, while continuing to focus on prudent capital circulation."
Straits Trading's stock price closed at SGD 1.75 on Friday, up 1.2%