Gowing Bros. Limited (GWB), a company with a diverse portfolio including strategic investments, property and retail, has announced its Appendix 4D and interim financial report for the half-year ended 31 January 2026. The company, which has been trading for 158 years, reported a 3.45% increase in total revenue from ordinary activities, reaching $29.5 million. This growth was primarily attributed to improved performance in investment property operations. Despite the revenue increase, Gowing Bros. faced an operational loss before tax of $2.37 million.
The company also reported a gain on private equities of $0.08 million and another gain of $0.63 million. However, the loss before tax was $1.66 million, with an income tax expense of $0.70 million. The loss after tax attributable to members decreased by 57.4% to $0.96 million. Net assets per share before tax on unrealised gains increased by 6.3% to $4.07.
Despite the loss, the Gowing Bros. board has declared an interim fully franked dividend of 3.0 cents per share. The record date for the dividend is 8 April 2026, and the payment date is set for 23 April 2026. The Executive Chairman and Managing Director’s report highlighted the impact of differing market, sector, and geographic pressures, with challenges continuing in the global ocean sports business. The report also mentioned that shopping centre assets and investment properties performed in line with or above expectations.
The company is actively progressing development opportunities, with substantial progress made on the next stage of Sawtell Commons. Sales of blocks of land are expected to commence in the final quarter of 2026. Gowing Bros. also continues to implement sustainability initiatives across its business operations, focusing on reducing its environmental impact.
