MYP Ltd Narrows FY2025 Loss to S$2.4 Million Amid Stable Revenue and Lower Financing Costs
Summary:
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Revenue Stability: MYP Ltd reported a slight increase in revenue to S$18.29 million for the fiscal year ended 31 March 2025, up from S$17.81 million in FY2024.
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Reduced Net Loss: The company narrowed its net loss to S$2.43 million in FY2025, a significant improvement from the S$8.56 million loss reported in the previous year.
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Fair Value Gains: A fair value gain of S$0.4 million was recorded on investment properties in FY2025, contrasting with a loss of S$3.1 million in FY2024.
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Lower Finance Costs: Net finance costs decreased by 5.2% to S$14.35 million, primarily due to reduced interest expenses on bank borrowings.
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Tax Credit: The company recognized a tax credit of S$54,000 in FY2025, compared to a tax expense of S$275,000 in the previous year.
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Asset Base: Total assets remained stable at approximately S$657.7 million as of 31 March 2025, with investment properties valued at S$560.2 million.
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Earnings Per Share: Basic and diluted loss per share improved to 0.15 cents in FY2025, from 0.54 cents in FY2024.