GuocoLand Limited reported profit attributable to equity holders of 95.2 million Singapore dollars for the year ended Jun 30 2026, an 11 per cent year-on-year decline after the developer booked a large provision for potential losses at its China projects. Group revenue fell 25 per cent to S$1.434 billion as most sales from recently launched Singapore projects have yet to be recognised.
Basic earnings per share eased to 7.36 Singapore cents from 8.43 cents a year earlier. The board proposed a first and final dividend of 8 Singapore cents a share, up from 7 cents for FY2025, payable on 18 Nov 2026 subject to shareholder approval.
Property Development remained the main contributor, generating S$1.07 billion in revenue, down 32 per cent YoY, reflecting the early construction stage of new Singapore launches, whose revenues are recognised progressively. Proportionate revenue from equity-accounted Singapore joint ventures almost doubled to S$391 million, while share of profit from associates and JVs swung to S$32.4 million, helped by Springleaf Residence and Lentor Hills Residences. Property Investment revenue grew 4 per cent to S$292.5 million, underpinned by near-full occupancies and positive rental reversions at Guoco Tower, Guoco Midtown and 20 Collyer Quay.
Group operating profit tumbled 58 per cent to S$125.0 million after a S$207.2 million allowance for foreseeable losses on two Chongqing residential projects. Excluding this charge, underlying operating profit was largely stable at S$367.2 million, just 2 per cent lower YoY. Fair-value gains on investment properties rose 40 per cent to S$82.2 million, partially offsetting the China write-down.
During the year the developer sold more than 90 per cent of units across five newly launched Singapore projects, including River Modern and joint-venture developments such as Springleaf Residence and Tengah Garden Residences. These sales are expected to flow through earnings as construction progresses toward scheduled completions between 2026 and 2030. Net debt fell to S$4.45 billion, trimming the debt-to-assets ratio to 0.39 times from 0.44 times a year earlier.
Chief executive officer Cheng Hsing Yao said the group’s “twin engines” of property development and investment remained resilient, noting almost full occupancies and strong rental reversions at its Singapore offices and malls, while new home launches saw robust take-up rates. He added that the impairment in Chongqing followed a cautious reassessment of market conditions in China, and that most financial risks there have now been addressed.
Looking ahead, management signalled that Singapore will remain the primary focus for investment, with a fifth site secured in Lentor Hills and a successful bid for the Berlayar Drive parcel in the Greater Southern Waterfront. The recent privatisation of GuocoLand Malaysia is expected to enhance operational flexibility as the group positions for growth in a market benefiting from rising technology and industrial investment. In China, GuocoLand will continue to monetise its Chongqing residential stock while selectively assessing new opportunities amid a challenging near-term outlook.