LHN (01730) announces profit, expected annual pre-tax profit from continuing operations not less than approximately SGD 50 million.

LHN (01730) announced that the group expects to achieve a post-tax profit of not less than approximately 50 million Singapore dollars from its continuing operations in the fiscal year 2024, compared to about 44.3 million Singapore dollars in the fiscal year ending on September 30, 2023 (including approximately 23 million Singapore dollars from continuing operations and approximately 21.3 million Singapore dollars from discontinued operations). The increase in profit for the fiscal year 2024 is mainly due to the increase in profit from the group's co-living business under residential properties, as well as the net fair value gains from the group and joint venture investment properties acquired in the fiscal year 2024, compared to net fair value losses in the fiscal year 2023. This increase is offset by the lack of one-time gains from the sale of an associated company (Getgo Technologies Pte. Ltd.) by the group, the lack of post-tax profit from the sale of LHN Logistics Limited and its corporate group from the discontinued operations, and a decrease in net profit from sublet investments.