Bukit Sembawang Estates H1 earnings dip 25% after completion of two condo developments

Bukit Sembawang Estates reported a 25% decline in net profit to S$47.2 million for H1 FY2025/26, attributed to a 61% drop in revenue from property development, totaling S$130.2 million. The decrease was due to the completion of two condominium projects, The Atelier and LIV@MB. The hospitality segment also saw a 12% revenue decline. Earnings per share fell to S$0.1821, and no dividend was declared. The company plans to launch a new residential development, Pollen Collection II, and focus on ongoing projects. Shares closed at S$4.16, down 1%.