GRP (BLU) H1 2026 earnings summary

Executive summary

• H1 FY2026 revenue rose 11.6% YoY to S$10.88m; pretax profit fell to S$62k from S$493k, and net loss was S$197k versus net profit of S$271k.

• Profit attributable to owners was S$159k versus S$451k; a S$356k loss attributable to non-controlling interests brought total results to a net loss.

Financial highlights

• Gross profit increased 1.8% YoY to S$2.965m; distribution costs rose 7.3% to S$1.023m and administrative expenses rose 21.3% to S$2.025m.

• Other operating income declined 28.4% to S$159k, largely reflecting lower interest income; finance costs were S$14k versus S$21k.

• Operating cash flow was negative S$2.803m versus positive S$327k; net cash and cash equivalents fell S$2.993m to S$14.841m.

Outlook and guidance

• Phase 1 and 2 of the Perak affordable housing project are expected to complete in March 2026; obtaining the required CCC may ease buyers’ loan-financing challenges.

• Cash is being preserved amid market uncertainty and the focus on completing the housing project; no dividend was declared for the period.