However, adjusted net profit, after factoring in other gains and losses, one-off items under other income as well as share of profits from associates, surged by 164% y-o-y to $61.7 million. This was due to the better performance and growth seen across Wee Hur’s core business segments, including property development, construction and workers’ dormitories.
Wee Hur Holdings has reported earnings of $38.7 million for the 1HFY2025 ended June 30, 42% lower y-o-y.
The lower bottomline was attributed to the absence of contributions from associates and joint ventures after the group disposed its purpose-built student accommodation (PBSA) portfolio under Wee Hur PBSA Master Trust (or Fund I). During the period, Wee Hur reported a share of loss from investments and associates and joint ventures of $25,000 from $59.9 million in the 1HFY2024.
