The Hour Glass Limited reported net profit of S$179.5 million for the 12 months ended 31 March 2026, up 32 per cent year-on-year, lifted by higher sales and a S$20.3 million fair-value gain on investment properties that reversed a loss a year earlier.

Revenue rose 15 per cent YoY to S$1.34 billion. Basic earnings per share increased to 27.79 cents from 20.94 cents. The board declared an unchanged final dividend of 4.00 cents per share, on top of the interim payout of 2.00 cents already paid; record and payment dates will be announced later.

South-East Asia & Oceania remained the main growth engine, with revenue climbing 17 per cent to S$1.16 billion and segment pre-tax earnings advancing to S$214.1 million. North-East Asia revenue edged up 6 per cent to S$173.5 million, generating S$30.7 million in segment profit before tax. Group gross margin narrowed to 30.4 per cent from 30.9 per cent amid a higher cost of goods sold, while depreciation and finance costs rose following additional right-of-use assets and lease liabilities.

Weaker margins and increased rental and financing expenses partly offset operating gains, but these pressures were more than compensated by the property revaluation surplus and a 29 per cent rise in contributions from associates to S$15.6 million.

During the year the retailer completed the A$75.3 million (about S$75.3 million) acquisition of Australian watch retailer THGRAU Pty Ltd, adding distribution rights valued at S$66.5 million and goodwill of S$22.3 million to the balance sheet. The group also invested S$80.3 million in new investment properties, cancelled 59.4 million treasury shares worth S$112.3 million and repaid all outstanding bank loans, leaving it debt-free at end-March. Cash and bank balances stood at S$157.5 million, while inventories increased to S$362.2 million.

Looking ahead, management noted that geopolitical tensions and macro-economic headwinds could weigh on luxury spending, but said long-standing partnerships with leading watch brands provide “a resilient foundation” and that the group expects to remain profitable over the next 12 months.