Financial Performance - The company reported revenue of SGD 59.181 million for the six months ended March 31, 2022, a decrease of 8.0% compared to SGD 64.478 million for the same period in 2021[13]. - Gross profit for the same period was SGD 31.219 million, down from SGD 35.183 million, reflecting a decline of 11.0%[13]. - The net profit attributable to equity holders was SGD 32.196 million, representing a significant increase of 117.0% compared to SGD 14.809 million in the previous year[13]. - The total comprehensive income for the period was SGD 33.780 million, compared to SGD 15.263 million in the prior year, marking an increase of 121.0%[13]. - Revenue for the six months ended March 31, 2022, was SGD 70,537 thousand, a decrease of 6.4% compared to SGD 74,938 thousand for the same period in 2021[37]. - Gross profit for the six months ended March 31, 2022, was SGD 28,272 thousand, down from SGD 32,510 thousand in the previous year, reflecting a decline of 13.1%[37]. - The company reported a net profit of SGD 13,567 thousand for the six months ended March 31, 2022, compared to a loss of SGD 690 thousand in the same period of 2021[37]. - The adjusted EBITDA for the six months ended March 31, 2022, was SGD 32,508 thousand, an increase of 82.0% from SGD 17,874 thousand in the previous year[39]. - Total other income for the six months ended March 31, 2022, was SGD 9,981,000, an increase of 67% from SGD 5,963,000 in 2021[80]. - The share of profits from associates and joint ventures increased from approximately SGD 0.9 million in the first half of 2021 to approximately SGD 9.4 million in the first half of 2022, primarily due to a fair value gain of approximately SGD 8.3 million from investment properties in 2022[136]. - The group's profit before tax increased by approximately SGD 17.6 million (or 96.4%) from approximately SGD 18.3 million in the first half of 2021 to approximately SGD 35.9 million in the first half of 2022[138]. - The group's net profit increased by approximately SGD 18.6 million (or 121.8%) from approximately SGD 15.3 million in the first half of 2021 to approximately SGD 33.9 million in the first half of 2022[140]. Assets and Liabilities - The company's total assets as of March 31, 2022, were SGD 443.045 million, up from SGD 386.808 million as of September 30, 2021, indicating a growth of 14.6%[14]. - Non-current assets increased to SGD 197.096 million from SGD 166.570 million, reflecting a rise of 18.3%[14]. - Current assets rose to SGD 338.103 million, compared to SGD 286.269 million, an increase of 18.1%[14]. - The company's total equity increased to SGD 178.002 million from SGD 148.283 million, representing a growth of 19.9%[14]. - The total assets reported as of March 31, 2022, were SGD 388,240,000, an increase of 14.8% from SGD 337,895,000 as of September 30, 2021[77]. - The total liabilities reported as of March 31, 2022, were SGD 256,814,000, an increase of 11.7% from SGD 229,877,000 as of September 30, 2021[77]. - The company's total liabilities increased from 89,822 thousand Singapore dollars as of September 30, 2021, to 115,390 thousand Singapore dollars as of March 31, 2022, marking an increase of approximately 28.5%[96]. - The company's total trade and other receivables as of March 31, 2022, was SGD 36,734,000, an increase from SGD 33,839,000 as of September 30, 2021[90]. Cash Flow - Cash flow from operating activities for the six months ended March 31, 2022, was SGD 19,558 thousand, down from SGD 24,820 thousand in the previous year[17]. - Cash and cash equivalents at the end of the period increased to SGD 37,848 thousand from SGD 36,362 thousand in the previous year[17]. - The company reported a net cash outflow from investing activities of SGD 23,709 thousand, compared to SGD 13,640 thousand in the previous year[17]. - The company’s cash flow from financing activities resulted in a net cash inflow of SGD 5,210 thousand, compared to a net cash outflow of SGD 13,925 thousand in the previous year[17]. - Cash generated from operating activities was approximately SGD 19.6 million in the first half of 2022, with adjustments for changes in working capital[157]. - Cash used in investing activities was approximately SGD 23.7 million, mainly for the acquisition of properties and equipment[157]. - Cash generated from financing activities was approximately SGD 5.2 million, primarily from bank borrowings for the purchase of properties and operational funding[158]. - As of March 31, 2022, cash and cash equivalents increased by approximately SGD 1.1 million to about SGD 37.8 million[159]. Investments and Acquisitions - The company completed the acquisition of two joint venture properties, including industrial and co-living residential properties, during the first half of 2022[110]. - The company acquired a property at 298 River Valley Road for SGD 8.5 million, completed on April 29, 2022[109]. - Investment properties increased by approximately SGD 30.5 million, primarily due to the acquisition of a property at 55 Tuas South Avenue 1 for approximately SGD 23.8 million[142]. - The company’s capital expenditures for the six months ended March 31, 2022, included SGD 33,150,000 for investment properties[60]. - The company’s capital commitments for investment properties, plant, and equipment amounted to 28,146 thousand Singapore dollars as of March 31, 2022, compared to 2,889 thousand Singapore dollars as of September 30, 2021[97]. Market and Operational Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12]. - The company plans to expand its market presence in Southeast Asia, focusing on logistics and facility management sectors[74]. - The company is actively pursuing new technology developments to enhance service efficiency and customer satisfaction[74]. - The company plans to launch four new Coliwoo properties, adding 135 rooms to the existing portfolio of 925 rooms in the second half of the fiscal year ending September 30, 2022[116]. - The company plans to expand its market share in the parking business through the provision of smart parking solutions[117]. Corporate Governance - The company has established an audit committee to review and supervise its financial reporting procedures and internal controls[198]. - The audit committee consists of three independent non-executive directors[199]. - The company has complied with the corporate governance codes of Hong Kong and Singapore, except for the separation of the roles of chairman and CEO[195]. - The financial statements in this report have not been audited but have been reviewed by the audit committee and deemed compliant with applicable accounting standards[200]. Shareholder Information - The company declared an interim dividend of SGD 0.006 per share (equivalent to HKD 0.0339) for the first half of 2022, payable on June 17, 2022[181]. - As of March 31, 2022, the major shareholder Fragrance Ltd. holds 220,982,600 shares, representing approximately 54.04% of the total equity[185]. - The company's executive director Lin Longtian holds 220,982,600 shares, also representing approximately 54.04% of the total equity[185].
LHN(01730) - 2022 - 中期财报