The Assembly Place first-half profit rises 80.7% to $2.2m

The community-living operator expanded its managed portfolio to 3,520 keys during the period.

The Assembly Place reported an 80.7% year-on-year increase in net profit to $2.2m for the first half of 2026.

Revenue rose 33.9% to $15.6m, from $11.6m in the corresponding period, driven by additional master lease agreements and the expansion of its Community-Driven Stays segment.

The number of keys under operation and management increased to 3,520 as at June 2026 from 3,018 as at June 2025.

Gross profit grew 22.7% to $11.2m, whilst cost of sales increased 75.1% to $4.4m.

Profit growth was also supported by a lower fair-value loss on investment properties, which declined to $3.6m from $5.1m.

Excluding $0.2m in non-recurring IPO expenses and $0.2m in share-based payments, adjusted net profit increased 113.3% to $2.6m.

Net cash generated from operating activities rose to $7.7m, compared with $6.9m in the previous corresponding period.

As at 30 June, the company had $11.5m in cash and cash equivalents, $41.6m in total equity and $116.7m in total assets.

The Assembly Place declared its first interim dividend of 0.1 cent per share.

The company manages 3,520 keys across 103 properties in Singapore and has more than 2,100 additional keys in its development pipeline.

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