Coliwoo Holdings Ltd's stock surged 3.92% during Thursday's intraday session, following the release of its robust financial results for the first half of the fiscal year.
The company reported a 43.9% year-on-year increase in net profit to S$13.44 million, driven by higher rental income as portfolio occupancy remained strong at 97.0%. Revenue for the period climbed 16.6% to S$26.87 million, supported by contributions from new properties and growth in management-services fees.
Executive chairman and CEO Kelvin Lim affirmed the resilience of the co-living model, citing an improving rental market and recovering tourism. The company's expansion plans, including a target of 10,000 rooms by 2030 and ongoing capital-recycling efforts to fund asset-light growth, provided a positive outlook for future performance.