The Hour Glass H2 profit jumps 39% to S$103.8 million on higher sales

[SINGAPORE] Luxury watch retailer The Hour Glass reported a 39 per cent rise in net profit to S$103.8 million for its second half ended Mar 31, driven by stronger sales momentum.

This was up from S$74.4 million a year earlier, the company said in a bourse filing on Friday (May 22). Revenue rose 16 per cent year on year to S$722.8 million, from S$622.6 million.

For the full year, The Hour Glass’ net profit rose 32 per cent to S$179.4 million, up from S$135.8 million the previous year.

Revenue came in at S$1.34 billion, an increase of 15 per cent from S$1.2 billion a year earlier.

Gross margin for the full year narrowed slightly to 30.4 per cent, from 30.9 per cent in FY2025. However, the bottom line was lifted by a fair-value gain on investment properties of S$20.3 million, reversing a loss of S$6.5 million the year before.

The board recommended a final dividend of S$0.04 a share, unchanged from the year prior. Together with an interim dividend of S$0.02 a share, the total payout for FY2026 will be S$0.06 a share.

Earnings per share for the full year rose to S$0.28, from S$0.21 the year before.

Michael Tay, group managing director of The Hour Glass, noted that the results were “significant and meaningful”, given the global contraction in the broader luxury sector, alongside ongoing conflicts and trade wars.

“Management’s energy this year was channelled into strengthening the operating model, deepening our partnerships and ensuring the group is always positioned to act with conviction,” he said.

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The group expects persistent global uncertainty to lead to cautious consumer sentiment. However, it expects to remain profitable in the next financial year.

Shares of The Hour Glass rose 2.1 per cent or S$0.05 to close at S$2.46 on Friday, before the announcement.