Heeton Holdings swings to FY2025 S$10.1m loss on higher impairments and derivative losses, despite 3.9% revenue growth and S$29.1m operating cash flow
Summary:
-
Full-year revenue rose 3.9% to S$81.2 million, led by hospitality income from UK hotels, but profit from operations slipped 2.8% to S$21.4 million as staff and operating costs increased.
-
The Group posted a net loss of S$10.1 million (FY2024: S$0.7 million profit) after S$4.9 million impairment on financial assets, a S$0.9 million impairment on property, plant and equipment, S$2.4 million fair-value loss on derivatives and a S$0.4 million mark-to-market loss on an investment security.
-
Fair value gain on investment properties fell sharply to S$1.4 million from S$3.5 million, while share of associates and JVs more than doubled to S$3.8 million, reflecting mixed performance across property and joint-venture portfolios.
-
Net cash from operations was resilient at S$27.9 million before interest and tax (S$29.1 million pre‑working capital), with year-end cash and cash equivalents up to S$50.7 million; however, net current position swung to a S$4.3 million liability and total borrowings increased to S$561.2 million.
-
Total equity declined to S$411.0 million (NAV per share 77.7 cents) from S$421.9 million as dividend payouts and the year’s loss offset FX translation gains; the group continues to run a highly geared balance sheet with a S$53.8 million, 7% bond due November 2026.