Hotel Properties (H15) H1 2025 earnings summary

Executive summary

• 1H25 revenue rose 9.0% YoY to $378.4m; profit attributable to shareholders was $11.4m versus a $4.9m loss in 1H24.

• PBT increased to $19.4m from $2.2m, including a $27.3m fair value gain on Concorde Shopping Mall shop units.

Financial highlights

• Revenue was $378.439m versus $347.297m; gross profit was $85.159m versus $82.256m.

• Group profit after tax was $11.458m versus a $3.460m loss; shareholder-attributable profit was $11.440m versus a $4.925m loss.

• Basic and diluted EPS were both 1.34 cents, versus a loss of 1.62 cents in 1H24.

• Operating profit before associates, depreciation, amortisation, fair value changes and finance costs was $86.9m, up 6.3% YoY from $81.8m.

• Net fair value loss on long-term investments was $9.3m versus a $5.5m gain; finance costs increased to $51.0m from $50.2m.

Outlook and guidance

• Global geopolitical trade tensions and ongoing conflicts may weigh on consumer confidence and spending; interest rates continue on a downward trajectory.

• Revised redevelopment plans for The Forum, voco Orchard Singapore and HPL House are scheduled for submission by Aug 24, 2025, with final approval a key next milestone.