Bonvests Holdings Ltd. reported a net profit of S$19.39 million for the year ended Dec 31 2025, a 945% year-on-year surge from S$1.86 million. The sharp rebound was driven by higher fair-value gains on investment properties and a one-third reduction in finance costs following loan repayments and lower interest rates.
Earnings per share rose to 4.828 Singapore cents from 0.465 cents a year earlier. The board proposed a final tax-exempt dividend of 1.20 Singapore cents per share, up from 0.80 cents previously; subject to shareholder approval on Apr 28 2026, it will be paid on May 28 2026 to shareholders on record as of May 13 2026.
Group revenue edged up 1.8% YoY to S$228.24 million. By segment, hotel operations remained the largest contributor at S$161.45 million (+0.9%), while rental income advanced 2.0% to S$20.57 million. The industrial (waste management and contract cleaning) arm delivered S$46.22 million, a 4.7% increase. Segment earnings before interest, tax, depreciation and amortisation (EBITDA) improved 15.2% to S$54.74 million, comprising S$37.18 million from hotels (+5.8%), S$12.71 million from rental (+4.0%) and S$3.69 million from industrial services (+5.0%). Net fair-value gains on investment properties almost doubled to S$13.80 million, further bolstering pre-tax profit to S$29.11 million.
Higher staff costs in the hotel and industrial divisions, together with a 42% rise in income-tax expense to S$9.72 million, partly offset the earnings uplift. The hotel segment also faced intensifying competition and rising operating costs despite recovering occupancy and room rates.
Bonvests reiterated that its rental business should remain stable, while the hotel segment is expected to navigate a challenging environment marked by new supply. Construction of its Tunis hotel continues, with operations targeted to commence by end-2027, and the Perth development received updated approval in February 2026. The industrial unit aims to counter margin pressure from wage inflation through cost control and operational efficiencies, and management flagged ongoing earnings sensitivity in its investment portfolio to market volatility.