WestProp Revenue Rises 16.3% to US$14.9m as Property Sales Drive Growth

Victoria Falls Exchange (VFEX)-listed property concern WestProp Holdings Limited reported a robust performance for the half-year ended June 30, 2026, with revenue rising 16.3% to US$14.91 million from US$12.82 million in the previous period.

The growth was fueled by the first-time consolidation of Sunshine Developments, Electro Properties and Brick Fusion Manufacturing into the group's accounts. Millennium Heights emerged as the largest top-line contributor, generating US$5.19 million, or 34.8% of group revenue, up from US$3.28 million in the comparative prior period.

Pomona City contributed US$4.99 million, a 21.3% year-on-year increase propelled by strong buyer demand for the Pomona City Walk-Up Flats, according to the company. Revenue from Pokugara Residential Estate slowed to US$350,000 from US$5.43 million as the estate reached full sell-out, leaving only final handover settlements outstanding.

Gross profit increased 9.5% to US$7.49 million from US$6.83 million in the first half of 2025. However, group gross margin narrowed to 50.2% from 53.3% because of a changing product mix and margin dilution at Millennium Heights, partially offset by a 19.7 percentage-point margin expansion at Pomona City to 57.7%.

In a move to enhance market liquidity, WestProp Holdings approved a 100-for-3 share split, increasing the number of issued shares from 30 million to 1 billion, a restructuring aimed at improving the accessibility of the stock for investors.

The company's balance sheet strengthened, with total assets rising 9.1% to US$261.79 million and investment property increasing 19.4% to US$188.39 million. WestProp attributed the growth to ongoing development at The Hills, expansion in its hospitality portfolio and the consolidation of Sunshine Developments.