Financial Performance - For the six months ended September 30, 2024, revenue increased by 31.0% to SGD 66,474 thousand compared to SGD 50,761 thousand in the same period of 2023[3] - The net profit attributable to equity holders from continuing operations surged over 100% to SGD 34,317 thousand, up from SGD 3,353 thousand in the previous year[6] - The company reported a gross profit of SGD 29,218 thousand for the six months ended September 30, 2024, reflecting a 4.6% increase from SGD 27,945 thousand in the same period of 2023[3] - Basic earnings per share from continuing operations rose to 8.26 Singapore cents, compared to 0.82 Singapore cents in the prior year, marking an increase of over 100%[3] - Total comprehensive income for the period was SGD 34,573 thousand, a 59.2% increase from SGD 21,716 thousand in the previous year[6] - The company’s total revenue for the fiscal year ended September 30, 2024, was SGD 121,021 thousand, up 29.2% from SGD 93,644 thousand in 2023[3] - The company’s total profit for the fiscal year ended September 30, 2024, was SGD 47,290 thousand, a 23.8% increase from SGD 38,211 thousand in 2023[6] Expenses and Costs - The company’s administrative expenses decreased by 40.6% to SGD 9,507 thousand for the six months ended September 30, 2024, compared to SGD 16,016 thousand in the same period of 2023[6] - The net financing costs increased by 33.8% to SGD 6,179 thousand for the six months ended September 30, 2024, compared to SGD 4,617 thousand in the previous year[6] - Total expenses for the six months ended September 30, 2024, amounted to SGD 48,505,000, an increase of 19.4% from SGD 40,668,000 in the same period of 2023[61] - The total depreciation expense for the six months ended September 30, 2024, was SGD 10,427,000, compared to SGD 9,094,000 in the same period of 2023, indicating an increase of 14.6%[61] - Financing costs increased by approximately SGD 2.9 million (or 32.8%) from SGD 8.9 million in FY2023 to SGD 11.8 million in FY2024, mainly due to increased interest expenses from bank borrowings and higher interest rates[117] Assets and Liabilities - Total assets increased to SGD 696.779 million as of September 30, 2024, compared to SGD 554.073 million in the previous year, representing a growth of 25.7%[10] - Non-current assets rose to SGD 570.098 million, up from SGD 416.288 million, marking a 37% increase year-over-year[10] - Current assets totaled SGD 126.681 million, a slight decrease from SGD 137.785 million, indicating a decline of 8.1%[10] - Total liabilities increased to SGD 439.743 million from SGD 336.024 million, representing a rise of 30.8%[10] - Bank borrowings rose to SGD 255.837 million, compared to SGD 149.453 million, showing an increase of 71.1%[10] - Total equity reached SGD 257.036 million, up from SGD 218.049 million, which is an increase of 17.9%[10] Cash Flow - Cash flow from operating activities for the year was 31,957 thousand SGD, a decrease of 45.0% from 58,265 thousand SGD in the previous year[20] - Cash flow from investing activities showed a significant outflow of 99,816 thousand SGD, compared to an outflow of 13,309 thousand SGD in the previous year, indicating increased investment activities[22] - Cash flow from financing activities resulted in a net inflow of 56,266 thousand SGD, contrasting with a net outflow of 19,837 thousand SGD in the previous year, highlighting improved financing conditions[22] - The company reported a decrease in cash and cash equivalents at year-end to 43,333 thousand SGD from 58,580 thousand SGD, a decline of approximately 26.0%[22] - Cash generated from operating activities was approximately SGD 28.4 million, offset by income tax payments[149] Dividends and Shareholder Returns - The company paid dividends amounting to 12,361 thousand SGD during the year, compared to 8,148 thousand SGD in the previous year, marking a 51.5% increase in dividend payouts[18] - The company proposed a final dividend of 1.0 Singapore cent per share for the fiscal year ending September 30, 2024[67] - The net asset value attributable to shareholders rose to SGD 254,181,000 as of September 30, 2024, up from SGD 216,194,000 in 2023[72] Segment Performance - The group has six reportable operating segments: Industrial, Commercial, Residential, Property Development, Facility Management, and Energy[45] - Total sales across segments amounted to SGD 149,877,000, with external sales contributing SGD 121,021,000[52] - The group reported a pre-tax profit of SGD 51,421,000, with a net profit of SGD 47,873,000 after tax expenses of SGD 3,548,000[52] - Revenue from rental properties reached SGD 45,632,000 for the year, up from SGD 37,359,000 in the previous year, indicating a growth of approximately 22.5%[57] - The company’s investment in joint ventures and associates totaled SGD 39,445,000, indicating strong performance in this area[54] Market and Business Developments - The occupancy rate for co-living spaces in Singapore reached 97.5% as of September 30, 2024[91] - The energy business recorded significant revenue growth, with a total solar power generation capacity of approximately 8.8 megawatts as of September 30, 2024[92] - The company secured 125 new facility management contracts and renewed 117 contracts during the fiscal year 2024[92] - The company completed the property at 55 Tuas South on schedule, which is expected to contribute to revenue in the next fiscal year[91] - The company plans to launch new development projects, including properties at 48 and 50 Arab Street, and 141 Middle Road, which will add over 250 rooms to its co-living portfolio by the end of the fiscal year 2025[98] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the group's consolidated performance for the fiscal year 2024 and confirmed compliance with applicable accounting standards and regulations[176] - The company has adopted the corporate governance codes from both Singapore and Hong Kong, ensuring compliance with stricter regulations[171] - The financial figures reported have not been audited or reviewed by the company's auditors[186]
LHN(01730) - 2024 - 年度业绩