GRP (BLU) AGM 2026 presentation summary

FY2026 performance

• Revenue was S$20.61m, up 165.6% YoY; loss before tax was S$3.38m and loss after tax S$3.67m, versus FY2025 losses of S$8.59m and S$8.79m, respectively.

• Measuring Instruments revenue was S$5.40m, up 11.9% YoY; Property revenue was S$5.20m, returning to positive revenue.

• Growth reflected higher Measuring Instruments revenue and the return of Property revenue; losses fell by more than 50% YoY.

Balance sheet and shareholder returns

• FY2026 cash and cash equivalents were S$10.93m, NAV was S$21.46m, current ratio was 1.97x, bank debt was nil, and equity per share was S$0.119.

• Cash was 50.93% of NAV; cash use to complete the affordable housing project contributed to the FY2026 decrease.

• TSR was -15.81% over 10 years and -18.74% over five years to 2026; share price moved from 23.28¢ to 7.00¢ and 18.30¢ to 7.00¢, respectively.

• Shareholder value included LFHL share distributions in 2016 and 2021; dividends of 0.50¢ in FY2019 and 1.00¢ in FY2020.

Property construction and sales

• Phase 1 comprises 465 units; 464 were sold, pre-CCC was obtained on 6 April 2026, infrastructure was largely complete, and full CCC was expected by end-October 2026.

• Phase 2 comprises 270 units and 28 shop houses; 98 completed units were sold, building works were 90% complete and infrastructure 70% complete, with full CCC expected by December 2026.

• Phase 2 also includes 67 linear units, with building works 100% complete; sales had not yet been released and full CCC was expected by December 2026.

• Phase 3 comprises 304 units; works are expected to commence after Phase 2 CCC, with CCC targeted for December 2027.