Chasen returns to profit with $33.2m gain for FY2025
Chasen Holdings Limited reported a net profit of $33.2 million for FY2025, reversing a loss of $6.6 million from the previous year. Revenue increased by 22% to $116.3 million, with gross profit rising 66% to $21.2 million. The profit surge was attributed to a significant gain from the divestment of CZ Group, contributing $45.1 million, and strong performance in the Specialist Relocation segment, particularly in the U.S. Fully diluted earnings per share improved to 8.95 Singapore cents from a loss of 1.76 cents a year earlier.
Revenue rose 22% YoY to $116.3m, whilst gross profit increased by 66% to $21.2m for FY2025.
Chasen Holdings Limited reported a net profit after tax of $33.2m for the financial year ended 31 March 2025 (FY2025), reversing a net loss of $6.6m recorded in the previous year.
The improved performance was driven by revenue and gross profit growth as well as a substantial gain from the divestment of its CZ Group operations, the company said in a media release on 30 May 2025.
Revenue rose 22% YoY to $116.3m, whilst gross profit increased by 66% to $21.2m for FY2025. The Specialist Relocation segment, particularly operations in the United States, was a key contributor.
The segment benefited from a multi-million dollar relocation service contract secured in May 2024 from an electric vehicle battery manufacturer, according to Chasen.
The disposal of CZ Group in July 2024 contributed a one-time gain of $45.1m. Profit before tax for continuing operations, before one-off adjustments, was $800,000 for the year, marking a turnaround from a loss of $2.7m in FY2024.
After one-off adjustments, which included a goodwill impairment and provision for doubtful debt, continuing operations recorded a net loss of $12.7m.
Fully diluted earnings per share stood at 8.95 Singapore cents, compared to a loss of 1.76 cents a year earlier. Net asset value per share rose to 21.2 Singapore cents, up from 15.1 cents in FY2024.
