Sundart reports revenue, profit decline in first half 2025

Sundart Holdings Limited announced its interim results for the six months ended June 30, 2025, reporting a 17.5% year-on-year decrease in revenue to HK$2,282.8m. Gross profit also fell significantly by 31.1% to HK$265.2m, with the gross profit margin declining to 11.6% from 13.9%. Profit attributable to owners of the company decreased by 19.0% to HK$135.4m, resulting in basic and diluted earnings per share of HK6.27 cents, down 19.1%.

The decline was mainly attributed to a HK$529.5m or 19.2% year-on-year decrease in revenue from the fitting-out business, particularly in Hong Kong and Singapore due to fewer sizeable projects. Conversely, the manufacturing, sourcing, and distribution of interior decorative materials segment saw an increase in external revenue by HK$44.3m to HK$44.5m, driven by new orders from the Philippines.

As of June 30, 2025, the group's net current assets stood at HK$2,651.8m, a decrease of HK$495.8m, while bank balances and cash decreased by HK$784.2m to HK$1,856.7m. The board did not recommend the payment of an interim dividend for the period.