LHN net profit drops 14.6% in H124

Gross profit rose 36.0% to $34.6m.

LHN reports a net profit of $13.0m in 1H24, down 14.6% YoY from $15.2m in H123 due to the absence of one-time gain realised in H123.

Revenue for the period rose 27.2% to $54.5m, whilst gross profit increased 36% to $34.8m.

ALSO READ: LHN Limited Warns of a profit dip in 1H24

The increase was due to a significant rise in revenue from the co-living segment within its Space Optimization Business and Facilities Management Business, which grew revenues by 34.1% YoY to $35.9m and by 3.6% YoY to $17.2m, respectively.

The outlook for 2024 remains positive, with the company’s co-living properties forecasted to drive its residential segment forward supported by a pipeline of new projects, a recent tender win, and an acquisition plan.

Follow the link for more news on

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia