Ossia International 1H FY2026 profit halves to S$2.6m on 31% revenue drop, but dividend resumes and NAV edges higher
Summary:
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Revenue fell 31.3% year on year to S$11.0 million for the six months ended 31 December 2025, mainly due to loss of recurring TUMI distribution revenue after the asset buyback.
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Profit after tax declined 48.5% to S$2.6 million, as gross margin compressed by 6.1 percentage points on a weaker Taiwan dollar versus the US dollar and lower scale, partly cushioned by S$4.5 million earnings from the associated company.
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Net cash used in operations widened to S$6.9 million, reflecting weaker profitability and a S$1.7 million deposit outlay for a new property option, driving cash and cash equivalents down to S$10.2 million from S$18.0 million at end-June 2025.
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Despite the cash outflow, net asset value per share inched up to 26.34 cents from 25.99 cents, supported by retained earnings and a S$1.1 million share of property revaluation gains at the associate.
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The board declared an interim dividend of 1.0 Singapore cent per share for FY2026, signalling confidence even as the group restructures its portfolio and replenishes inventory for new seasons.