Bukit Sembawang Estates (B61) H1 2025 earnings summary

Executive summary

• 1H FY2024/25 revenue rose 23% YoY to $324.0m and profit after tax increased 149% to $62.9m, mainly on higher profits recognised from development projects.

• Cash and cash equivalents were $536.6m at 30 September 2024, up from $452.2m at 31 March 2024; net cash generated from operations was $127.4m.

Financial highlights

• Revenue was $324.0m, up 23% YoY; cost of sales increased 8% to $251.5m and gross profit rose 128% to $72.5m.

• Profit from operations increased 156% to $66.4m; profit before tax rose to $74.4m from $30.4m.

• Profit after tax was $62.9m, up 149% YoY; tax expense increased to $11.5m, mainly from deferred tax on taxable temporary differences for units sold but still under development.

• Interest income rose to $8.1m from $4.7m on additional bank fixed deposits; finance costs fell to $0.1m from $0.3m, mainly due to no loan interest.

Outlook and guidance

• Construction progress on ongoing projects will be monitored to support timely completion; residential launch timing will be calibrated prudently.