OUE Limited posts $35.6m profit in H1, reversing previous loss

Revenue fell 6.9% to $292.8m.

OUE Limited reported a profit of $35.6m for the first half ended 30 June 2025, reversing a $96.1m loss a year earlier

The group’s revenue for the period declined 6.9% to $292.8m from $314.5m in 1H 2024, mainly due to a 9.7% drop in the real estate segment to $194.5m.

Investment properties and fund management revenue declined 8.5% following the divestment of Lippo Plaza Shanghai, partially offset by stronger performance from Singapore commercial properties.

Hospitality revenue also slipped 9.8% amidst weaker travel demand and softer consumer spending, whilst healthcare revenue remained stable at $75.3m.

The group’s food and beverage operations were flat at $23m.

Losses from equity-accounted investees narrowed to $46m from $92.5m in 1H 2024, largely due to lower losses from Gemdale Properties in China. Adjusted EBIT almost doubled to $55m.

The profit turnaround was supported by $94.9m in negative goodwill from additional equity acquired in Gemdale, higher EBIT, investment property gains, and increased finance income, partly offset by foreign exchange losses and higher taxes.

OUE ended the period with $522.7m in cash and approved an interim dividend of 1.0 Singapore cent per share.

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