The Hour Glass Limited reported a 23 per cent rise in net profit to S$75.7 million for the six months ended Sept 30, 2025, buoyed by double-digit top-line growth and steady gross margins. Revenue climbed 14 per cent year-on-year to S$615.4 million, driven by sustained demand for luxury timepieces across its key markets in South-east Asia and Oceania.

Earnings per share increased to 11.70 Singapore cents from 9.46 cents a year earlier. The board declared an interim cash dividend of 2.00 Singapore cents per share, unchanged from the prior year, payable on 8 Dec 2025 to shareholders on record as at 5 p.m. on 27 Nov 2025.

By geography, South-east Asia and Oceania remained the growth engine, contributing S$526.6 million in external sales, up 11 per cent YoY, and segment profit of S$97.2 million. North-east Asia added S$88.8 million in revenue, a 33 per cent jump, delivering S$16.9 million in segment profit. Group gross margin held broadly stable at 30.8 per cent versus 30.7 per cent a year earlier. Cost pressures surfaced in higher depreciation following store refurbishments and new leases, yet operating leverage supported the earnings uplift.

Inventories expanded to S$347.2 million from S$328.3 million at end-March, reflecting deeper brand partnerships and store expansion. Net cash rose to S$196.1 million, although gross borrowings increased to S$86.5 million after the group secured S$40 million in new loans to fund growth initiatives. The retailer also spent S$3.7 million buying back shares and paid a final FY2025 dividend of S$25.9 million during the half.

During the period, The Hour Glass strengthened its Australian presence by acquiring 100 per cent of Melbourne-based THGRAU Pty Ltd for S$75.3 million, adding new boutiques and S$68.9 million of provisional goodwill to the balance sheet. Management said the deal enlarges its client base and offers operating synergies across the group’s Australian network.

Looking ahead, the company cautioned that persistent trade tensions and broader macroeconomic uncertainties could weigh on luxury spending. Nevertheless, it highlighted resilient demand for high-end watches and the support of long-term partnerships with leading Swiss brands. The group said it “expects to remain profitable for the full financial year,” underpinned by its diversified geographic footprint and conservative balance sheet.