First Real Estate Investment Trust (First REIT) reported a decline in its financial performance for the first half of 2026. The company's sales for the six months ending June 30, 2026, totaled SGD 46.28 million. This represents a decrease from SGD 50.47 million in the same period last year.
Net income dropped to SGD 15.71 million. This is down from SGD 23.93 million a year prior.
The decline reflects a substantial squeeze on profit margins. The trailing net profit margin fell to 19.8%. It previously stood at 38.3%.
A one-off loss of SGD 16.2 million also impacted the results. First REIT's stock price remained flat at SGD 0.23 following the announcement.