Ho Bee Land announced a net profit after tax and minority interest (MI) of $100.2 million, down 9% y-o-y while net profit before MI fell by 7% y-o-y to $102.4 million. Revenue for FY2025 declined by 17% to S$440.1 million. The decrease was primarily due to the deconsolidation of Elementum, lower rental income, and lower settlements of the Group’s development properties.
Rental income from the Group’s property portfolio in Singapore and London decreased by 10% to $239.9 million in FY2025 (FY2024: $265.7 million), arising from the reclassification of Elementum as a joint-controlled asset, and the planned vacancies at 1 St Martin’s Le Grand in preparation for its major enhancement works.
In FY2025, revenue from development property sales declined by 24%, from S$262.3 million in FY2024 to S$200.1 million. This is attributed mainly to lower settlements for our projects in Australia.
The underlying net profit rose by 37% y-o-y to $102.4 million in FY2025, excluding the one-off divestment gain in FY2024.
The UK property valuations stabilised, rising $3.7 million in FY2025.
The Group’s net gearing improved to 0.61x as at Dec 31 2025, Total shareholders’ funds amounted to S$3.8 billion, translating to a net asset value of $5.67 per share. Earnings per share for FY2025 were 15.09 cents (FY2024: 16.50 cents).
See also: Mooreast returns to profitability with higher revenue and margins
Ho Bee Land has proposed a first and final dividend of 5 cents.
