The group says that this decline was due to the weaker performance in the Hospitality business segment, impacted by the ongoing refurbishment works at its owned hotel in Australia, the Rendezvous Hotel Perth Scarborough (RHPS).
Far East Orchard has reported earnings of $19.6 million for the 1HYF2025 ended June 30, up 7.5% y-o-y. Excluding the $9.1 million one-off gain from an acquisition made in January, earnings would have declined to $10.5 million.
The group’s revenue for the 1HFY2025 declined 6.1% y-o-y to $91.3 million, and profit after tax declined 8.3% y-o-y to $18 million.
