Dolphin Cove has reported a sharp reversal in its financial performance for 2025, posting a net loss of just over US$2.34 million. This marks a significant turnaround from a profit of about US$1.83 million, recorded in 2024.
The group's overall revenue also declined, falling by roughly 14 per cent year over year to US$13.1 million.
Programmed revenue dropped to US$5.9 million from US$7.5 million the year before, while ancillary services, including restaurants and gift shops, slipped to US$7.2 million.
The company says its bottom line was significantly affected by a more than US$2.8 million increase in impairment losses on related party balances alongside higher operating expenses.
Despite the downturn, the company continued to distribute dividends during the year, paying out just over US$1.48 to shareholders.
Dolphin Cove says, while revenues and profitability declined in 2025, its financial statements remain in compliance with international accounting standards, and it continues to operate as a going concern.
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