Heeton Holdings posts profit for FY2024

The company saw a double-digit increase in revenue.

Heeton Holdings posted a $725,000 net profit for 2024, recovering from a net loss of $6.5m in FY 2023.

The group’s revenue during the year increased by 15.2% to $78.16m due to an increase in hotel operation income in the United Kingdom and a growth in rental rates for the company’s investment properties.

However, personnel expenses increased to $23.42m due to higher manpower costs. Other operating expenses increased to $29.36 million due to higher operating expenses.

Meanwhile, finance expenses increased by $2.12m to $29.51m mainly due to higher interest rates on bank borrowings and additional term loans.

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