Logo from LHN Group

LHN Limited’s net profit drops 16.6% YoY to $38.2m in FY23

Despite lower profit, the company proposed a 71.4% YoY higher dividend per share.

LHN Limited reported a net profit attributable to equity holders of the company of $38.2m in FY23, a 16.6% drop from FY22.

In a bourse filing, the company attributed the decline to net fair value losses of $8.7m associated with its investment properties and the investment properties of its joint ventures in FY2023, compared to fair value gains of $24.8m in FY2022.

Despite the lower profit attributable to equity holders of the company, LHN Limited has proposed to pay out a special dividend and final dividend of 1.0 Singapore cent each per share, subject to approval by shareholders at the forthcoming annual general meeting, given the realised gains and cash generated from the group’s divestments.

READ MORE: LHN Limited  warns of lower profits for FY23

Amongst divestments LHN Limited carried out in FY23 include its 20% interest in associate in car-sharing platform GetGo Technologies for $7.9m, 50% interest in a joint venture in Amber 4042 Hotel for $23.3m, and 84.05% controlling interests in LHN Logistics Limited for $31.9m. 

Including the previously declared interim dividend of 1.0 Singapore cent per share, the total dividend per share (DPS) for FY2023 amounts to 3.0 Singapore cents per share, or 71.4% YoY higher than FY22.

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!