LHN Limited’s net profit plunges 47.4% YoY to $16.9m in H123

Despite the net profit decline, the company proposed a higher interim dividend of $0.01.

LHN Limited’s profit attributable to its equity shareholders dropped by 47.4% YoY to $16.9m in the first half of the financial year 2023 (H123).

Based on its latest financial statement, the company also recorded a 6.0% YoY lower revenue of $55.6m.

In a bourse filing, LHN attributed the decline to  fair value losses associated with the group’s investment properties and joint ventures’ investment properties in 1H2023, as compared to fair value gains in 1H2022.”

Despite the net profit decline, LHN Limited still proposed a 6.0% YoY higher interim dividend of $0.01 per share.