UOL Group’s operating patmi before fair value and other gains rose by 45% y-o-y to $206.6 million in 1HFY2025 ended June 30, due to strong performance from most business segments, in particular residential property.
Patmi increased by 58% y-o-y to $205.5 million including gains from the disposal of PARKROYAL Yangon. Group pre-tax profit before fair value and other gains/losses totalled $319.2 million, up 30% y-o-y underpinned by higher operating profits from property development and property investments, as well as lower net finance expenses.
Group revenue rose 22% y-o-y to $1.55 billion with revenue from property development up 40% y-o-y to $731.7 million on higher progressive revenue recognition from Pinetree Hill, Watten House and MEYER BLUE in Singapore.
This was partly offset by an absence of contributions from Clavon and The Watergardens at Canberra in Singapore, which received their temporary occupation permits last year.
As at June 30, the Group’s shareholders’ funds decreased to $11.48 billion from $11.53 billion as at Dec 31, 2024 due mainly to lower hedging reserves, foreign currency translation reserves and payment of dividends to shareholders.
This was partly offset by profits recorded for the period. As a result, the net tangible asset per share decreased to $13.55 from $13.61 as at end-December.
See also: SingPost reports 60% lower operating profit in 1QFY2026 business update
Net gearing ratio rose to 0.25 as at end-June from 0.23 as at end-December due mainly to borrowings taken to fund the acquisition of a stake in 388 George Street in Sydney and for the redevelopment of Clifford Centre in Singapore.
UOL ended at $7.16 on August 13, up more than 38% this year.
