Aspen (Group) Holdings (1F3) H1 2026 earnings summary

Executive summary

• 1H FY2026 revenue fell 37% YoY to RM64.7m; gross profit rose 5% to RM19.0m, while the period ended with a RM5.0m net loss.

• Lower revenue reflected one ongoing project, Versa, versus Versa and Vivo Executive Apartment in 1H FY2025; prior-period results included a one-off RM74.1m gain on disposal of a joint-venture interest.

Financial highlights

• Revenue was RM64.710m versus RM102.202m; gross profit was RM19.038m versus RM18.123m.

• Loss before tax was RM3.730m versus profit before tax of RM68.038m; net loss from continuing operations was RM4.975m versus profit of RM67.607m.

• Other income was RM874k versus RM75.801m, including the prior-period RM74.081m disposal gain; net finance costs decreased 48% to RM2.316m.

• Loss attributable to owners was RM5.985m versus profit of RM67.878m; 2024 included RM789k profit from discontinued operations, re-presented for the restaurant subsidiaries.

Outlook and guidance

• Penang’s property sector is expected to remain stable in 2026, with house prices continuing to appreciate; mainland demand is expected to sustain momentum amid government programmes.

• Malaysian property demand is expected to be selective, with greater emphasis on quality, sustainability and long-term value; industrial property in Penang is supported by manufacturing and technology activity.