Stamford Land has posted earnings of $6.8 million for the 2HFY2021 ended March, bringing earnings for the FY2021 to $8.3 million.

The figures for the 2HFY2021 and FY2021 represent declines of 34.8% and 66.9% from earnings of $10.4 million and $24.9 million posted in the respective periods.

Revenue for the 2HFY2021 stood 26.4% lower y-o-y at $73.7 million due to lower revenue from the group’s hotel owning and management, property investment and trading segments. The lower figure was offset by higher revenue from the property development segment.

Revenue for the FY2021 fell 41.7% y-o-y to $113.8 million due to lower revenue across all segments.

For more stories about where the money flows, click here for our Capital section

Want our latest Singapore corporate news stories for FREE

Follow our Telegram, Facebook for the latest updates round the clock

Overall expenses for the FY2021 decreased, with lower spending across consumables used, staff costs and other operating expenses, and offset by higher expenses from properties sold, depreciation expenses and finance costs.

Profit for the FY2021 stood 61.3% y-o-y lower at $10.7 million.

Earnings per share (EPS) stood at 0.86 cent and 1.05 cents for the 2HFY2021 and FY2021.

SEE:Stamford Land mulls divestment of hospitality properties to go asset light

As at March 31, cash and cash equivalents stood at $112.6 million.

The group has declared a final dividend of 0.5 cent per share, same as the year before.

Shares in Stamford Land closed 0.5 cent lower or 1.2% down at 41 cents on May 28.