Aspial Corporation Ltd reported a net profit attributable to shareholders of S$21.48 million for the year ended 31 Dec 2025, a five-fold increase from S$3.50 million a year earlier, lifted by stronger contributions from its retail jewellery and financial services arms.

Group revenue rose 29 per cent year-on-year (YoY) to S$875.80 million, while basic earnings per share after perpetual securities distribution climbed to 0.97 cent from 0.16 cent. The board did not propose a dividend for FY2025; the previous year’s final payout was 0.30 cent per share.

By segment, the Retail Business generated revenue of S$726.58 million, up 37.9 per cent YoY, and delivered pre-tax earnings of S$67.09 million (FY2024: S$26.12 million). The Financial Services Business booked revenue of S$103.51 million, an increase of 35.3 per cent, translating into pre-tax profit of S$41.69 million (FY2024: S$25.16 million).

The Real Estate Business recorded revenue of S$45.72 million, down 39.1 per cent YoY, and posted a pre-tax loss of S$41.51 million, widened from a loss of S$24.57 million the previous year, mainly due to a partial write-down of the Albert Street site in Brisbane. Hotel operations, however, showed improved occupancy and average room rates, supported by the opening of a new property in Penang.

Group operating expenses increased 22.5 per cent to S$299.4 million, reflecting higher staff costs, depreciation and non-recurring write-downs. Finance costs fell 12 per cent to S$44.34 million on lower interest rates and reduced borrowings in the real estate division.

Looking ahead, Aspial expects the operating environment in FY2026 to remain “broadly stable” amid elevated gold prices and moderating interest rates. Management plans to:

• Sustain growth in the Retail Business by tightening inventory management and responding to shifting consumer demand;

• Expand the loan portfolio in its pawnbroking and secured-lending platform BigFundr, supported by strong collateral values and investor appetite;

• Improve real-estate performance through higher hotel revenue and lower holding costs, while pursuing a A$51 million legal claim linked to the Brisbane Albert Street project.

The company said its diversified business model and disciplined cost control should help mitigate macroeconomic uncertainties and support sustainable performance in the new financial year.