ZACD reported a turnaround for the six months ended 30 June 2026, posting a net profit of S$0.59 million versus a loss of S$0.73 million in the prior-year period. Basic earnings per share shifted to a gain of 0.03 Singapore cents from a loss of 0.04 Singapore cents.
Revenue rose 15.1 % to S$1.60 million, driven mainly by a S$0.86 million increase in project management fees linked to the La Ville and Landmark developments. SPV investment management revenue fell 64.7 % to S$0.06 million, while fund management revenue declined 46.1 % to S$0.62 million due to lower performance fees and the absence of a one-off tender fee booked last year.
Cost discipline supported the earnings rebound. Staff expenses fell 14.3 % to S$1.50 million after headcount dropped from 27 to 16. Other operating costs decreased by S$0.11 million, and a S$1.83 million reversal of prior impairments on loans and receivables further bolstered the bottom line. These gains were partly offset by a S$0.89 million swing to a fair-value loss on a financial derivative tied to a put option granted to an investor.
The balance sheet strengthened: net assets increased to S$14.78 million from S$14.28 million at year-end 2025, while cash and cash equivalents more than doubled to S$8.70 million, helped by loan recoveries from Mount Emily and other funds. The group remains ungeared apart from S$0.32 million of lease liabilities, translating to a 2.2 % gearing ratio. No interim dividend was declared.
Management expects continued progress on core projects—including Bloomsbury Residences, Arina East Residences and Duet@Mount Emily—and is in advanced talks to launch a new Singapore industrial fund targeting development and strata sales of high-specification assets.
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