Hiap Seng Industries Ltd reported net profit of S$1.27 million for the six months ended Sept 30 2025, down 68.6 per cent year-on-year, as lower construction and maintenance activity and smaller disposal gains offset stable rental and interest income.

Revenue slipped 13 per cent year-on-year to S$10.99 million, while basic earnings per share fell to 0.03 Singapore cent from 0.12 cent a year earlier. The board declared an interim, tax-exempt dividend of S$0.0001 per share—its first payout for the comparative period—with a record date of Nov 24 2025 and payment slated for on or about Dec 8 2025.

By segment, plant construction & maintenance delivered all group revenue and generated earnings before interest, tax, depreciation and amortisation (EBITDA) of S$1.86 million, compared with S$4.81 million in the prior year. Pre-tax profit for the group came in at S$1.64 million versus S$4.46 million previously.

Performance was weighed down by a 24.1 per cent contraction in gross profit to S$2.68 million, narrower foreign-exchange gains and the absence of last year’s S$1.16 million gain on asset disposals. Administrative costs declined 12.6 per cent to S$1.65 million, partly cushioning the revenue shortfall.

Looking ahead, the company noted an industry environment marked by intense competition, elevated manpower and dormitory costs, and wider macro-economic uncertainties that could affect clients’ capital spending. Management said it will keep a “selective” stance on new projects, focus on cost controls and explore diversification opportunities supported by its healthy balance sheet.