Far East Orchard (O10) Q1 2025 TU earnings summary

Executive summary

• 1Q FY2025 profit after tax was S$17.1m, boosted by a one-off S$9.2m gain on the increased stake in Woods Square; revenue and operating profit declined amid RHPS refurbishment.

• Stronger UK PBSA and property development contributions partly offset lower Hospitality results; the 49% HFS investment contributed positively to share of results.

Financial highlights

• Revenue was S$46.5m, down 8.6% YoY; operating profit was S$17.3m, down 4.4% YoY.

• Profit after tax was S$17.1m versus S$6.5m in 1Q FY2024; profit attributable to equity holders was S$17.3m versus S$6.9m.

• Adjusted for the one-off S$9.2m Woods Square acquisition gain, reported profit after tax includes a material non-recurring contribution.

Outlook and guidance

• Outlook remains cautious amid global uncertainties; focus remains on scaling the lodging platform and building long-term stakeholder value.

• RHPS refurbishment remains on track for completion in 2H 2028; Bristol's 706-bed PBSA development is on track for June 2026 completion.