MBABANE – Swaziland Property Investments Limited (SWAPROP) recorded a 15.7 per cent decline in profit for the six months ended December 31, 2025.
This was despite registering a modest increase in overall revenue during the period.
The Eswatini Stock Exchange (ESE)-listed property company reported a profit of E4.68 million for the reviewed six-month period, down from E5.55 million recorded during the corresponding period in 2024.
The decline came even as total revenue increased by one per cent to E17.77 million from E17.44 million.
According to the company’s reviewed interim financial results, the lower profitability was largely driven by rising operating costs and increased administrative expenses, which eroded gains achieved from revenue growth.
SWAPROP stated that its operations remained satisfactory during the period from July 1, 2025, to December 31, 2025, despite what management described as difficult trading conditions.
The company noted that operational expenses increased by 10.7 per cent, mainly due to higher property management fees and insurance costs. Administrative expenses also rose significantly by 20.9 per cent, as a result of increased accounting-related expenses.
The financial statements show that property-related expenses climbed from E6.43 million to E7.11 million, while administrative expenses increased from E2.38 million to E2.88 million.
As a result, operating profit declined by 10 per cent to E7.78 million compared to E8.64 million achieved during the corresponding period last year.
Despite the pressure on profits, the company managed to maintain positive revenue growth, reflecting continued demand for its property portfolio and rental income streams.
Revenue reached E17.77 million compared to E17.44 million in the previous corresponding period.
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Swaziland Property Investments Limited (SWAPROP) recorded a 15.7 per cent decline in profit for the six months ended December 31, 2025.