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5AE — Pollux Properties News Story

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Singapore's Pollux Properties returns to profit in H1 as finance costs drop, other income rises

Singapore's Pollux Properties returns to profit in H1 as finance costs drop, other income rises


Overview

  • Singapore real estate developer's half-year revenue rose 2.8% yr/yr

  • Company reported profit for the period, reversing a loss in prior year


Outlook

  • Company Singapore property market is expected to remain stable over the next 12 months

  • Group expects business conditions to remain generally stable over the next 12 months


Result Drivers

  • FINANCE COSTS - Co's finance costs declined 39.8% yr/yr due to loan repayment and lower interest rates

  • OTHER INCOME - Co's other income increased from S$0.01 mln to S$1.25 mln on a reversal of provisions, project costs no longer
    required and gain on disposal of an investment property

  • OPERATING LOSS REDUCTION - Co's other operating loss narrowed by 39.0% yr/yr


Company press release: ID:nSN8qwh6Y


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

S$6.84 mln


Reuters Recommended Reads

  • Aug 12 - Singapore's City Developments H1 profit triples on Lumina Grand recognition

  • Aug 12 - Singapore's GSH Corp half-year revenue falls 32% on weaker property sales

  • Aug 12 - Singapore property brokerage PropNex H1 profit declines


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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