Wee Hur Holdings Ltd posted a net profit of S$46.4 million for the six months ended Jun 30, 2026, an 8 per cent year-on-year (YoY) increase, lifted by stronger contributions from its construction, purpose-built student accommodation (PBSA) and foreign-worker dormitory businesses.

The mainboard-listed group’s revenue grew 5 per cent to S$163.6 million, while basic and diluted earnings per share improved to 4.93 Singapore cents from 4.21 cents a year earlier. Wee Hur declared an interim tax-exempt dividend of 0.5 Singapore cent per share, unchanged from the preceding year; the payout will be made on 4 Sep 2026 to shareholders on record as at 24 Aug 2026.

Segmentally, Singapore construction revenue surged 163 per cent to S$67.2 million, driving a pre-tax profit of S$9.1 million against a S$2.8 million loss in 1H 2025, as work progressed on ongoing projects and cost savings were realised on completed jobs. The workers’ dormitory segment delivered S$12.7 million in pre-tax earnings on revenue of S$63.3 million, aided by the ramp-up of the 10,500-bed Pioneer Lodge alongside stable occupancy at Tuas View Dormitory.

Overseas property development swung to a S$10.1 million profit, bolstered by a S$9.4 million gain from the partial divestment of the group’s Lowood One stake in Queensland. Singapore residential development profit eased to S$5.2 million as Bartley Vue approached completion and Mega@Woodlands recorded fewer unit sales. Fund-management profit normalised to S$0.8 million, reflecting the absence of the one-off performance fee booked in 1H 2025.

The group booked a S$39.8 million fair-value loss on dormitory investment properties, yet this was outweighed by S$12.0 million of realised gains on derivatives, S$10.1 million of fair-value gains on financial assets at fair value through profit or loss, and the Lowood One disposal gain, resulting in net other gains of S$33.5 million versus a S$11.9 million loss a year earlier. Finance expenses climbed to S$7.2 million after the May 2025 issue of S$205 million in 4.8 per cent medium-term notes.

Looking ahead, management highlighted several growth initiatives: • Singapore property: sales launch of the 596-unit Upper Thomson Road (Parcel A) project is slated for 1H 2027; construction of Wycombe Abbey International School and the DoubleTree by Hilton Singapore Robertson Quay redevelopment is under way. • Dormitories: Pioneer Lodge occupancy reached 84 per cent in July and is expected to improve further amid rising demand from the construction, marine and process sectors. • PBSA platform: Fund III’s 708-bed Y Suites on Frome in Adelaide is targeted for completion in 2H 2027, while two Hong Kong assets – the 246-bed Starvia by Y Suites and the planned 500-bed One Bedford Place conversion – mark the brand’s first expansion beyond Australia. • Australian land bank: infrastructure works for the 358-lot Lowood project are due to start in 3Q 2026, with staged releases planned; development applications for more than 2,000 lots at Cryna are expected in 2H 2026.

The company did not disclose specific financial targets but noted that its fund-management arm, Wee Hur Capital, is engaging institutional investors to support further regional PBSA expansion.

Despite competitive tender conditions, Wee Hur’s construction order book stood at S$598.9 million as at Jun 30, providing visibility to FY 2029 and set to be augmented by the forthcoming Upper Thomson Road contract worth S$262.6 million.