Far East Orchard (O10) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 29.1% to S$247.6 million, driven by HFS consolidation after the stage-two acquisition and Japan hospitality expansion.

• Profit after tax fell 10.7% to S$54.8 million as net fair value gains declined, hospitality softened and interest expense increased; property contributions and one-off gains partly offset the decline.

Financial highlights

• Operating profit decreased 17.5% to S$64.2 million; FY2025 included a S$3.0 million fair value loss on a PBSA JV development asset versus a S$10.7 million gain in FY2024.

• Profit attributable to equity holders was S$54.0 million, down 8.4%; EPS was 11.0 Singapore cents, down 8.7%.

Outlook and guidance

• FEOR30 will scale the integrated lodging platform, grow recurring income and build earnings resilience through disciplined capital allocation, selective third-party capital and portfolio optimisation.

• 2026 global conditions are expected to remain challenging, with trade and geopolitical uncertainty, market volatility and financing cost pressures potentially moderating near-term performance.

• UK PBSA occupancy for AY25/26 was 88% versus 92% in AY24/25; AY26/27 pre-leasing was tracking marginally ahead of the same period for AY25/26.