133 views
Logo from LHN Group

LHN Limited  warns of lower profits for FY23

The company expects a net profit before tax of $40m.

LHN Limited expects to record a lower net profit before tax from “continuing operations plus profit from discontinued operations” for FY23.

LHN said its FY23 profit will likely come at no less than $40m, a drop from the $52.5m record in FY22.

In a bourse filing, LHN Limited said its lower profit for the period arises mainly from its Space Optimisation Businesses “due to estimated net fair value loss on the group’s investment properties and joint ventures’ investment properties in FY2023 as compared to net fair value gain in FY2022.”

LHN Limited, however, said its profit warning is only based on a preliminary assessment by the Board on information currently available.

“It may be subject to further adjustments and finalisation upon further review by the external auditors of the Company and the Board,” the company said.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Retail
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.