Ever Glory United Holdings Limited posted an audited net profit of S$16.6 million for the year ended Dec 31 2025, after recognising a one-off deferred-tax credit and restating its joint-venture interests as joint operations. The bottom line was S$3.5 million lower than the company’s previously announced unaudited figure, reflecting accounting reclassifications and tax adjustments.

Revenue came in at S$106.7 million (year-on-year change not disclosed) while profit before income tax stood at S$18.3 million. Basic earnings per share were 5.63 Singapore cents; diluted earnings per share were 5.52 cents. The company did not declare any dividend in the filing.

Performance drivers included: • Reclassification of a joint venture to a joint operation, which cut reported revenue by S$9.7 million to S$106.7 million and lifted cost of sales by S$6.3 million, resulting in a S$3.4 million reduction in gross profit. • A recognition of S$3.40 million in deferred tax assets on previously unutilised losses, which swung the income-tax line from an S$1.73 million expense to a S$1.81 million credit. • A S$0.11 million increase in the share of results from associates, reflecting improved associate performance.

Headwinds stemmed mainly from the joint-operation reclassification, which reduced both top-line and gross profit, and from the write-back of expected credit losses that was reclassified to finance items.

Strategic moves outlined in the accounts show the company is now consolidating joint operations on a line-by-line basis, allowing it greater transparency over assets, liabilities, revenue and expenses associated with these ventures.

The filing provided no forward guidance, targets or management commentary.