Grand Ming swings to $26.1m loss as revenue plunges 63%

Grand Ming Group Holdings Limited recorded a net loss of $26.1 million for the six months ended 30 September 2025, a reversal from the $52.6 million profit in the same period of 2024. This resulted in a basic loss per share of 1.8 cents, compared to basic earnings per share of 3.7 cents previously. The board has resolved not to declare an interim dividend for FH 2025/26.

The group's consolidated revenue for FH 2025/26 decreased by 62.9% to $253.5 million from $683.7 million in FH 2024/25. This decline was primarily attributed to a substantial decrease in residential properties delivered and the expiry of a data centre lease. Gross profit also fell significantly by 71.3% to $87.9 million from $305.9 million.

Despite the challenges, finance costs for the period decreased by 13.8% to $43.7 million, down from $50.7 million. As of 30 September 2025, net assets amounted to $2,693.1 million. The group also noted a non-binding indicative term sheet to sell its portfolio of four data centre projects, aiming to enhance liquidity and reduce indebtedness.