Powermatic Data Systems Ltd almost quadrupled net profit to S$12.3 million for the year ended 31 Mar 2026, up 279 per cent year-on-year, buoyed by the first-time contribution from its investment-property redevelopment project.

Earnings per share rose to 35.16 Singapore cents from 9.29 cents a year earlier. The board plans to recommend a final ordinary dividend of 4 cents a share and a final special dividend of 15 cents, bringing the proposed payout at the July annual meeting to 19 cents. This is on top of the 10-cent interim special dividend declared in November 2025. Payment and record dates will be announced later.

Group revenue doubled to S$28.5 million from S$14.4 million. Property development contributed S$15.6 million after the sale of 16 units (about 37 per cent of the project) was recognised under the percentage-of-completion method. Core wireless-connectivity turnover fell 10 per cent to S$12.9 million, as softer demand in North America and Europe offset higher shipments to contract manufacturers in Asia.

By segment, the property arm delivered S$10.8 million in pre-tax earnings while wireless connectivity generated S$2.7 million; corporate costs produced a loss of S$0.3 million. Foreign-exchange movements resulted in a S$0.7 million unrealised loss, and interest income slipped 16 per cent to S$1.2 million amid lower deposit rates.

Operating cash flow narrowed to S$1.9 million (FY25: S$7.1 million) as working-capital needs for construction and higher receivables absorbed funds. Cash and bank balances remained healthy at S$61.3 million, covering 72 per cent of current assets.

Looking ahead, the company expects the 79,021 sq ft food-factory redevelopment at 7 & 9 Harrison Road to obtain Temporary Occupation Permit by the March-2027 financial year. The remaining S$31.4 million of contracted sales from the 16 units sold will be recognised then, while unsold units will be carried at cost until sale or lease. In its core business, Powermatic plans to expand its Wi-Fi 7 range, commence sampling of Wi-Fi 8 modules, and focus on mission-critical verticals such as transportation, cybersecurity and heavy industry. Management is also sharpening R&D efforts on AI-ready wireless modules to capture emerging edge-computing demand.

The group cautioned that global macroeconomic uncertainty, currency volatility and potential trade restrictions could affect both the connectivity and property segments, but said its strong balance sheet provides capacity to fund ongoing development and sustain shareholder returns.