Bukit Sembawang Estates (B61) H1 2026 earnings summary

Executive summary

• H1 FY2025/26 revenue fell 60% YoY to $130.2m and net profit fell 25% to $47.2m, mainly reflecting lower property development contributions after two prior-period projects obtained TOP.

• Operating cash outflow of $367.1m, driven primarily by Land Betterment Charges, contributed to a $299.1m net cash decrease; period-end cash was $283.4m.

Financial highlights

• Revenue was $130.2m, down 60% YoY; gross profit was $61.9m, down 15%, and profit from operations was $55.8m, down 16%.

• Profit before tax declined 23% to $57.2m; net profit fell 25% to $47.2m, while tax expense decreased 13% to $10.0m.

• Interest income fell 71% to $2.4m as bank deposits and interest rates were lower; finance costs rose to $1.0m following a $121.0m term-loan drawdown.

• Total assets rose to $1,834.1m from $1,696.1m at 31 March 2025, while liabilities increased to $246.0m from $103.3m.

Outlook and guidance

• Preparing to launch Pollen Collection II, continuing sales at 8 @ BT and remaining Pollen Collection units, and progressing planning for Luxus Hills Phase 10.

• Construction progress will be monitored for timely completion; future launch timing will be calibrated prudently to prevailing market conditions.