LHN Limited Warns of a profit dip in 1H24

It expects a $14.5m profit for the period.

SGX-listed LHN Limited warned shareholders of a lower net profit before tax from continuing operations and discontinued operations of $14.5m for 1H24.

In 1H23, the company recorded a $20.3m profit. 

In a bourse filing, the space resource optimisation company attributed the lower profit to the absence of one-off gain from the group’s disposal of  Getgo Technologies,  an associate.

The absence of net profit before tax from discontinued operations related to the disposal of LHN Logistics Limited and its group of companies and a lower gain from net investment in subleases negatively impacted the company's profit.

An increase in profit from the group's co-living business within its residential properties and a lower net fair value loss on the group and joint ventures' investment properties partially offset the decrease in LHN Limited's profit.