LHN Limited’s FY2024 earnings soar 23.8% YoY to $47.3m

The growth was mainly due to revenue increase in its co-living segment.

LHN Limited (LHN) reported a 23.8% year-on-year (YoY) surge in earnings for FY2024 to $47.3m from $38.2m in FY2023. Distribution per unit (DPU) for the period stood at $0.030.

Revenue soared 29.2% YoY to $121.0m, with significant contributions from the Space Optimisation Business which grew by 37.7% YoY.

The increase was primarily driven by revenue growth in LHN’s co-living segment, along with the $14.7m gain from its investment properties and joint ventures during the financial year.

The Residential Properties (Co-living) segment saw significant growth with revenue from Singapore projects increasing by 85.5% YoY.

Meanwhile, revenue from its Facilities Management Business increased by 13.4% YoY and its Energy Business recorded a significant 190.1% YoY revenue growth.

The company declared a final dividend and a special dividend of $0.010 each.

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