Hotel Grand Central Limited reported a net profit attributable to shareholders of S$11.2 million for the six months ended Jun 30 2026, a 226.7% year-on-year (YoY) increase from S$3.4 million. The sharp rise was driven mainly by higher room and food-and-beverage takings at its Australian, New Zealand and Singapore properties, coupled with a S$3.5 million foreign-exchange gain stemming from a stronger Australian dollar.

Total revenue grew 8.6% YoY to S$74.7 million, lifting earnings per share to 1.51 Singapore cents from 0.46 cents a year earlier. The board did not declare an interim dividend, in line with the previous corresponding period. The group paid a final dividend of 1.5 cents per share for FY2025 during the half, unchanged from the prior year.

By geography, Australia remained the largest contributor with revenue of S$44.2 million and pre-tax profit of S$5.1 million, up from S$40.6 million and S$5.3 million respectively. New Zealand’s turnover climbed to S$16.8 million, generating S$1.5 million in segment profit versus a S$0.1 million loss a year earlier. Singapore added S$13.5 million in sales and S$2.6 million in profit. Malaysia and China posted modest revenue of S$0.1 million and S$0.1 million, incurring segment losses of S$0.2 million and S$0.6 million respectively. Rental income from investment properties eased 2.4% to S$5.5 million amid a softer leasing market.

Staff and hotel operating expenses expanded in tandem with higher occupancy, while interest expense fell to S$1.1 million from S$1.8 million on lower borrowing costs. Interest income slipped 11.2% to S$4.4 million as bank deposit rates moderated.

The group ended the half with S$330.5 million in cash and fixed deposits, up from S$298.3 million at end-June 2025, and reduced its short-term borrowings to S$62.2 million. Net asset value stood at S$1.70 per share, compared with S$1.67 as at Dec 31 2025.

Looking ahead, management highlighted a “highly competitive” hospitality landscape across Singapore, Australia and New Zealand. Key challenges include elevated operating costs, labour shortages, climate-related expenditures and persistent high interest rates. Rising oil prices linked to geopolitical tensions are also pressuring air-travel demand. The group said it will focus on boosting hotel revenue and tightening cost controls during the second half of 2026.