Link: https://links.sgx.com/1.0.0/corporate-announcements/WKMENGMQECPOO0GG/2f70ffbbd963c1461668b83d8bca904e6241678018688a00c289ce7cd98087f7

Summary:

• Revenue: S$341.5 million (up 28.8% YoY), driven mainly by higher new home sales which rose to S$131.2m (from S$57.9m); resale and rental transactions up S$3.1m to S$206.7m; other revenue S$1.5m (+11.9%).

• Profit: Profit before tax S$14.0m (+190%); profit after tax S$11.1m (+202%); profit attributable to owners S$11.25m; EPS: 3.1 cents basic (1.15 cents in 1H2024).

• Margins/costs: Cost of services S$305.7m (+27.0%); gross profit S$35.8m (+46.2%); total operating expenses S$20.6m (+4.9%); marketing expenses fell 21%; finance costs down 21.6%.

• Cash flow: Net cash from operating activities S$15.6m (vs outflow S$0.3m); investing outflow S$0.1m; financing outflow S$7.9m (dividends S$4.3m; loan repayment S$1.55m; lease S$0.35m; share buyback S$1.69m); period-end cash S$47.6m.

• Balance sheet: Total assets S$364.0m; total equity S$163.4m; NAV per share 46.1 cents (up from 44.0 cents at end-2024); net current assets S$25.6m; loans and borrowings S$38.6m (secured against ERA APAC Centre).

• Shares/capital: Treasury shares 3.84m acquired in 1H25; outstanding shares (excl. treasury) 355.4m; performance share plan expense S$1.16m; final FY2024 dividend 1.2 cents/share paid in 1H25.

• Geography: Singapore revenue S$333.8m; Indonesia S$2.2m; Vietnam S$5.4m; Others S$0.14m; non-current assets S$178.8m.

• Outlook/notes: Strong pipeline from new launches; continued tech tool investments and credit discipline; condensed interim statements unaudited; subsequent events include acquisitions of ERA Fajar and ERA Sky in Indonesia (51% each) completing in July 2025.