Far East Orchard more than doubles net profit in Q1

This is despite a dip of 8.6% in its first quarter revenue.

Far East Orchard reported a profit attributable to equity holders of the company of $17.3m in Q1 2025, more than double the $6.9m gains from the same quarter last year.

Revenue fell by 8.6% to $46.5m in the quarter. Operating profit was at $17.3m. The group reported a profit after tax of $17.1m in Q1, boosted by a one-off gain of $9.2m from the acquisition of an additional 6.7% interest in the Woods Square in January 2025, arising from higher fair value of net assets acquired over the purchase consideration.

The group said that whilst revenue and operating profit declined due to lower contributions from the Hospitality business segment, which has been impacted by ongoing refurbishment works at Rendezvous Hotel Perth Scarborough (RHPS), the group’s overall performance was bolstered by stronger contributions from its UK student accommodations business.

The Group’s acquisition of a 49% stake in student accommodations property in April has started contributing positively to the share of results in Q1 FY2025. The group also recognised a higher share of results from Woods Square in the property development business segment, driven by more units sold in Q1 FY2025 and the increase in shareholdings in Woods Square from 33% to 40%.