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Despite increase in profit compared to last year H1 their dividend payout is less than last year.
Joelton ( Date: 13-May-2022 09:49) Posted:
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LHN Limited records 117.4% y-o-y surge in 1HFY2022 earnings of $32.2 mil on fair value gains
Real estate management services group LHN Limited has reported earnings of $32.2 million, 117.4% higher y-o-y for the 1HFY2022 ended March.
Basic earnings per share (EPS) for the period stood 113.9% higher y-o-y at 7.87 cents.
During the period, revenue fell 8.2% y-o-y to $59.2 million, due to the y-o-y declines in its commercial business and facilities management business.
The lack of revenue for its dormitory set up & retrofit and lower revenue for one of the group&rsquo s residential properties, 85 SOHO, also contributed to the revenue decline.
Revenue from the group&rsquo s largest business segment, space optimisation business, contributed 34.8% of the group&rsquo s revenue. The segment saw revenue grow some 6.3% y-o-y due to higher revenue contribution from a newly acquired industrial property at 55 Tuas South Avenue 1 increase in revenue contribution from the group&rsquo s residential co-living properties in Singapore at the 1557 Keppel Road mixed used development and 320 Balestier Road, a newly acquired residential property in FY2021 and higher occupancy rates for its residential co-living properties in Singapore
Gross profit for the 1HFY2022 fell by 11.3% y-o-y to $31.2 million.
Other income increased by 67.38% y-o-y to $10.0 million mainly due to the increase in gains from subleases of approximately $3.5 million and increase in governments grants of approximately $0.4 million.
Other operating expenses fell 57.9% y-o-y to $0.9 million mainly due to the decrease in impairment losses on receivables of approximately $0.8 million under the space optimisation business and the absence of lease modification loss of approximately $0.7 million recorded in the 1HFY2021.
Share of results of associates and joint ventures surged 10.4 times to $9.4 million in the 1HFY2022 from the $0.9 million in the year before. This was mainly due to a net fair value gain on investment properties of approximately $8.3 million in 1HFY2022 as compared to a net fair value loss on investment properties of approximately $0.2 million in 1HFY2021.
Fair value gain on investment properties was approximately $8.6 million in 1HFY2022 as compared to a fair value loss on investment properties of approximately $2.7 million 1HFY2021.
As at end-March, cash and cash equivalents stood at $37.8 million.
In its outlook statement, the group says it is looking to develop four new Coliwoo properties in the 2HFY2022 ending Sept 30, which will add another 135 keys to its existing portfolio of 925 keys.
The group is also expecting to launch new Coliwoo properties in Singapore. They will comprise a block of serviced residence at 2 Mount Elizabeth Link comprising of 411 keys, a recently acquired freehold serviced residence property at 298 River Valley Road comprising of 13 keys as well as a newly signed master lease arrangement for a row of shophouses along Lavender Street.
The board has declared an interim dividend of 0.6 cents per share for the period.
It has also declared a special dividend of 0.15 cent per share following the successful listing of its spin-off, LHN Logistics.
The total dividend for the period comes up to 0.75 cents, same as the interim dividend of 0.75 cents in the same period the year before.
The dividend will be paid on June 17.
Expecting another dividends payout during the announcement
Accumulate
0.335
Tracer63 ( Date: 05-May-2022 16:27) Posted:
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Load up
POSITIVE PROFIT ALERT
FOR THE SIX MONTHS ENDED 31 MARCH 2022
The board (the ?Board?) of directors (the ?Directors?) of the Company wishes to issue a positive profit alert
announcement following the preliminary assessment of the Group?s unaudited financial results for the six months
ended 31 March 2022 (?1H2022?).
Based on information currently available, the Group expects to record a higher net profit before tax for 1H2022 of no
less than approximately S$34 million as compared to the six months ended 31 March 2021 of approximately S$18.3
million. The higher net profit before tax for 1H2022 arises mainly from the Space Optimisation Business due to
(i) gains from subleases which were derived based on differences between the right-of-use asset derecognised and the
net investment in sublease, pursuant to IFRS 16 (ii) higher fair value gains on the Group?s investment properties and
joint ventures? investment properties and (iii) increase in profit from the Group?s co-living business under residential
properties.
The Company is in the process of finalising its unaudited financial results for 1H2022 and will announce it in due
course pursuant to the requirements of Section B: Rules of Catalist of the Listing Manual of the Singapore Exchange
Securities Trading Limited and the Listing Rules. The financial information contained in this announcement has not
been reviewed by the Company?s auditors or the audit committee of the Company..
https://links.sgx.com/1.0.0/corporate-announcements/0TX99EXFRBA3CXE5/715796_e%20LHN%20Ltd%20-%20Profit%20Alert%201H22.pdf
I smell something today. Look like going to rebound to previous high
ruready ( Date: 21-May-2021 09:04) Posted:
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Swee
Catch
M
Don't firget Dividends date
Next week CD
Battery charger
No show,
Tmr
ruready ( Date: 20-May-2021 13:45) Posted:
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Catch
Save your bullets and wait for next positive lap. Range bound and slowly sliding down. Most likely will touch 23 before rebound
tccroy ( Date: 17-May-2021 15:23) Posted:
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At this point of time it is better to forgo the dividends. The paid out although is generous but I expect the price will drop more than 0.075 cent on XD date. At this pandemic time, no one knows which direction the infection rate will go. It is safer not to touch for now
later see short covering to 32
Dividend collecting status
305 buy on deep
Finally the monkey King run Ways
Catch monkey King later
Monday
Day catch again
Must catch the monkeys king
Catch monkey 29-295