Keong Hong (5TT) Q1 2026 earnings summary

Executive summary

• Q1FY2026 revenue fell 66.7% YoY to S$23.7m as fewer projects remained active and two projects were completed in FY2025; net profit fell to S$0.3m from S$7.0m.

• Gross margin improved to 5.9% from 5.4% YoY, while lower other income—especially the absence of prior-year FX gains and associate interest—contributed to weaker earnings.

Financial highlights

• Revenue was S$23.699m, cost of sales S$22.293m and gross profit S$1.406m, down 66.7%, 66.9% and 63.1% YoY, respectively.

• Profit before tax and net profit were both S$292k, versus S$6.959m in Q1FY2025; basic and diluted EPS were 0.12 cents, versus 2.96 cents.

• Other income declined to S$1.251m from S$7.553m; administrative expenses eased to S$1.990m from S$2.543m and finance costs to S$351k from S$428k.

• Total comprehensive result was a loss of S$229k, including a S$480k fair-value loss on FVTOCI assets and S$41k foreign-currency translation loss.

Outlook and guidance

• Construction order book stood at ~S$182m at 31 December 2025, comprising Solitaire on Cecil and HDB’s Tengah Plantation BTO project.

• Construction activity is expected to grow steadily in 2026; focus remains on private and public housing, healthcare, and addition-and-alteration projects.

• No immediate land acquisition plans; readiness to pursue attractive property development opportunities, while Maldives hotel efforts target stronger occupancy and revenue through trade partnerships and marketing.