Aspial Corporation recently shared some impressive numbers. For the second half of the year, the company saw a 34% jump in net profit, reaching S$13.5 million, up from S$10.1 million the year before. Revenue also rose significantly by 26%, totaling S$481.8 million.
For the whole year, the results were even more striking. The group’s net profit surged by 514% to S$21.5 million, compared to just S$3.5 million in FY2024. Full-year revenue increased by 29% to S$875.8 million, up from S$678.4 million.
A big part of this growth came from Aspial Lifestyle, a majority-owned subsidiary. Their net profit after tax leaped 172% to S$55.2 million for the second half, with a revenue boost of 38%, reaching S$462.9 million. For the full year, Aspial Lifestyle’s profit more than doubled to S$84.4 million, with revenue climbing 41% to a record S$830.1 million.
This remarkable performance in retail drove the success. Retail revenue soared 42% to S$726.6 million. Additionally, the pawnbroking sector saw an increase of 16% in revenue to S$148.6 million, and secured lending jumped 88% to S$11.5 million.
Interestingly, despite a challenging S$8 million hedging loss from rising gold prices, overall profit margins improved thanks to higher value in unredeemed collateral.
On the stock market, Aspial Lifestyle’s shares rose by 7.6% to S$0.355, while Aspial Corporation shares increased by 3% to S$0.139. Just the day before, Aspial Lifestyle experienced a 4.3% drop in share price.
The group’s retail and financial services sectors were key to this growth. Retail revenue in FY2025 increased by nearly 38% to S$726.6 million, driven by ongoing strong consumer demand for jewelry. The financial services side also saw revenue rise by 35.3% to S$103.5 million, largely thanks to higher interest income from pawnbroking.
However, not everything was rosy. The real estate segment struggled, reporting a 39.1% drop in revenue, totaling S$45.7 million. This downturn stemmed from poor sales related to the Australia 108 project and the absence of one-off asset sales from the previous year. Pre-tax losses in real estate widened to S$41.5 million, mainly due to a write-off related to an asset in Brisbane.
For the year, earnings per share stood at S$0.0097, compared to S$0.0016 the previous year. Aspial Corporation has opted not to declare a dividend this year to keep cash for working capital and growth opportunities. In contrast, Aspial Lifestyle increased its dividend to S$0.008 per share for the second half, marking a total of S$0.012 for FY2025—a 50% jump from last year.
For context, Aspial Lifestyle was previously known as Maxi-Cash Financial Services before becoming part of Aspial, integrating several key assets including the Aspial-Lee Hwa Jewellery business. This strategic move positions Aspial for future growth, emphasizing its commitment to the retail and financial services sectors.
This pivot toward retail has proven timely, especially as consumer trends shift. A recent survey by the Singapore Retailers Association highlighted that 65% of consumers are more inclined to spend on retail experiences post-pandemic. As spending patterns evolve, companies like Aspial can leverage these insights for continued success.
As the economic landscape shifts post-pandemic, staying attuned to these trends will be crucial for Aspial and similar companies looking to thrive in competitive markets.
