The group says that lower revenue and operating profit was mainly due to lower room rates in its hotels caused by a softer market, including depreciating Australian dollar against Singapore dollar. This also includes the accrual of incentives payments contrary to a reversal of $5 million in the prior year.
Stamford Land has reported lower earnings of $17.6 million for the 2HFY2025 ended March 31, down 14.2% y-o-y. However, for the full year, earnings surged to $32.8 million.
The group reported a 5.5% y-o-y lower revenue for FY2025 of $148.4 million. For the 2HFY2025, revenue also declined 6.5% y-o-y to $78.3 million.
