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Singapore's property firm Bukit's H1 profit halves, hurt by higher finance costs

By Reuters News


Overview

  • Singapore property developer's H1 revenue fell 4% yr/yr to S$125.1 mln

  • Net income for H1 dropped 51% yr/yr to S$23.3 mln

  • Company paid S$57 mln in final and special dividends, versus S$51.8 mln


Outlook

  • Company says Singapore's residential market remaining competitive as about 32,800 units may become available over the next one to two years


Result Drivers

  • POLLEN COLLECTION TOP – Property-development revenue declined primarily as Pollen Collection obtained TOP in June 2026

  • LOWER DEVELOPMENT PROFITS – Gross profit fell mainly on lower profit recognised from development projects

  • HIGHER BORROWING COSTS – Finance costs rose primarily after term-loan drawdowns in June and December 2025 increased interest expense


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

S$125.1 mln

H1 Net Income

S$23.3 mln


Analyst Coverage

  • Wall Street's median 12-month price target for Bukit Sembawang Estates Ltd is S$5.88, about 33% above its November 11 closing price of S$4.42


Reuters Recommended Reads

  • Nov 10 - German commercial property prices dip again in third quarter, data show

  • Nov 11 - Grand City Properties net income rises on rental growth; raises FY26 FFO I outlook

  • Nov 12 - Hong Kong's Link REIT interim revenue falls on negative rental reversions


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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