BHG Retail REIT (SGX:BMGU) Stock Faces Widening Losses And Thin Interest Cover

BHG Retail REIT entered this earnings season with a troubled reputation and a market price stuck at S$0.445, flat over the past week and slightly down over three months. The story has been about pressure on profits and debt costs. The latest half year numbers do not really challenge that view. The headline is the strain on the income statement and balance sheet. The trust remains loss making over the past year and interest costs are still not comfortably covered by earnings from continuing operations.

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H1 2026 Earnings Summary

• Revenue (H1 2026 vs. H2 2025): S$53.854 million vs. S$55.106 million (slight decline in trailing twelve month revenue).
• Net Loss (H1 2026 vs. H2 2025, trailing twelve months): S$2.053 million loss vs. S$1.818 million loss (loss widened on a trailing basis).
• Basic EPS (H1 2026 vs. H2 2025, trailing twelve months): S$0.003848 loss per unit vs. S$0.003498 loss per unit (per unit loss increased on a trailing basis).
• Earnings from Continuing Operations (H1 2026 vs. H2 2025, trailing twelve months): S$1.157 million vs. S$1.509 million (lower earnings contribution from continuing operations).

Prefer clear visual charts over long paragraphs and rows of numbers about BHG Retail REIT? View a full visual summary of its recent loss making track record and wider financial picture in the company report for BHG Retail REIT.

Where BHG Retail REIT Still Offers Upside Hope

BHG Retail REIT still gives supporters a few things to hold on to. Revenue over the latest half remained around S$54 million, which is reasonably steady for a small China focused retail portfolio. Earnings from continuing operations stayed positive at S$1.157 million on a trailing basis, which means the core properties are still producing some income before financing and other items. For investors who care most about occupancy and rental continuity, these figures can be read as signs that the operating platform has not broken down despite ongoing pressure.

Losses And Interest Costs Keep Bear Story Intact

The bearish read on BHG Retail REIT is largely confirmed by these numbers. The trust remained loss making over the past year, and that loss widened on a trailing basis to S$2.053 million along with a larger basic loss per unit. Earnings from continuing operations slipped from S$1.509 million to S$1.157 million, while interest costs are still not comfortably covered. With the unit price flat over 7 days and slightly down over 3 months, the market does not seem to be seeing quick relief on these pressures.

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Take Control Of Your Next Move

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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