<a href="https://laohu8.com/S/FEPTY">Far East</a> Orchard Reports 6.1% Dip in Revenue and 8.3% Decline in Net Profit for 1H FY2025; Adjusted Net Profit Excluding One-Off Gain Falls to $8.9 Million
Far East Orchard Limited has reported its financial results for the first half of FY2025, revealing a decline in several key performance metrics. Revenue for the period was recorded at $1.3 million, marking a decrease of 6.1% compared to the first half of FY2024. Operating profit fell to $30.6 million, representing a 14.4% drop from the previous year. Net profit for 1H FY2025 stood at $18.0 million, an 8.3% decrease from 1H FY2024. Profit attributable to shareholders was $16.6 million, down 42.3% from the same period last year. The company's financial performance was impacted by a weaker operating performance in the hospitality segment. However, there was a contribution from Homes for Students within the Purpose-built Student Accommodation (PBSA) segment following an acquisition in April 2024. Additionally, the results included a one-off gain of $9.1 million from acquiring an additional 6.7% interest in Woodlands Square Pte. Ltd. Far East Orchard continues to expand its portfolio of Purpose-built Student Accommodation assets in the UK, with several developments underway in Bristol, Glasgow, and Manchester, expected to be completed between 2026 and 2028. This expansion is expected to increase the company's PBSA portfolio to more than 4,700 beds across the UK upon completion.
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