Bermuda Press Holdings Ltd swung to a $192,000 net profit for the first half of its financial year as revenue climbed 7.3 per cent, helped by the purchase of an additional commercial property.

Earnings for the six months ended March 31, 2026 represented an improvement of $455,000 from the corresponding period a year earlier, when BPH recorded a net loss of $263,000, a result impacted by a one-off legal expense of $225,000.

Increased revenues from BPH’s real estate and publishing operations contributed to a $525,000 year-over-year increase in total revenue, the company said in a statement to shareholders filed with the Bermuda Stock Exchange today.

Operating profit from continuing operations was $336,000, up from a loss of $4,000 in the prior-year period.

The company’s focus is on “maximising real estate returns, completing key growth initiatives, expanding digital platforms, and maintaining cost discipline”, according to the statement.

BPH, which owns The Royal Gazette, added: “Your company delivered a strong improvement in financial performance during the period, increasing its profitability while advancing several strategic initiatives that further strengthen its long-term future.

“The meaningful improvement in profitability is the result of the restructuring undertaken by management and the board in recent years, which positions the company for stability and growth.”

BPH’s acquisition of Par-la-Ville Properties Ltd added an additional office building on Par-la-Ville Road, Hamilton, to BPH’s property assets. The extra capacity, combined with improved occupancy of the group’s commercial properties, resulted in 22.4 per cent growth in BPH’s real estate revenues.

Publishing revenues grew 2.8 per cent year over year. BPH said it “continues to evolve its product offerings to maximise revenue streams to ensure The Royal Gazette remains Bermuda’s most trusted news source and independent Fourth Estate”.

Office equipment revenues grew 20.2 per cent as BPH said it shifted away from retail operations to focus on more profitable revenue streams.

The statement also highlighted the successful divestment of Engravers Ltd, which provided resources to reinvest into commercial properties to sustain their high occupancy rates, and “to explore additional strategic opportunities that support BPHL’s growth initiatives”.

The redevelopment of the former offices of The Royal Gazette at 2 Par-la-Ville Road resulted in the opening of Bermuda’s first indoor pickleball facility on June 24. Press Court Ltd, a wholly owned subsidiary of BPH, operates the facility.

The Royal Gazette’s operations were consolidated into more modern offices next door, at 4 Par-la-Ville Road, BPH added. The board noted its gratitude to longstanding editor Dexter Smith, who has retired was succeeded by Bill Zuill.

BPH declared no dividend as the company is prioritising capital investment to meet strategic growth initiatives.