SUTL Enterprise Limited (BHU) H1 2025 earnings summary

Executive summary

• Revenue rose 3% year-over-year to S$20.79m for the six months ended 30 June 2025, driven by a larger Singapore Yachting Festival.

• Profit after tax declined 5% to S$4.22m, mainly due to higher expenses and foreign exchange losses.

• Cash and cash equivalents increased to S$30.90m, reflecting net inflows from matured financial assets.

Financial highlights

• Sales of goods and services increased 4% year-over-year to S$15.69m.

• Membership and management fees slightly decreased by 2% to S$5.10m.

• Total expenses rose 5% to S$16.91m, with notable increases in employee benefits, cost of sales, and repairs.

• Profit before tax fell 6% to S$5.11m; income tax expense decreased 12% to S$0.89m.

• Net asset value per share was S$0.7887, marginally down from S$0.79 at year-end.

Outlook and guidance

• Actively seeking new marina development and management opportunities in Asia Pacific.

• Awaiting results of a major tender for a multi-year lease in Singapore.

• No interim dividend declared; company typically does not pay mid-year dividends.