Revenue Performance - The group's revenue decreased from approximately SGD 121.0 million in FY2021 to approximately SGD 111.8 million in FY2022, a decline of about SGD 9.2 million (or 7.6%), primarily due to a decrease in facility management revenue, partially offset by an increase in space optimization revenue[1]. - Revenue from industrial properties increased from approximately SGD 17.7 million in FY2021 to approximately SGD 18.9 million in FY2022, an increase of about SGD 1.2 million (or 6.9%), mainly due to contributions from newly acquired properties[2]. - Revenue from commercial properties decreased from approximately SGD 7.7 million in FY2021 to approximately SGD 7.5 million in FY2022, a decline of about SGD 0.2 million (or 2.3%), primarily due to the expiration of three major leases[4]. - Revenue from residential properties increased from approximately SGD 13.0 million in FY2021 to approximately SGD 16.2 million in FY2022, an increase of about SGD 3.2 million (or 24.3%), mainly driven by growth in co-living business in Singapore[5]. - Facility management revenue decreased from approximately SGD 55.4 million in FY2021 to approximately SGD 41.9 million in FY2022, a decline of about SGD 13.5 million (or 24.4%), primarily due to reduced revenue from dormitory management services[6]. - The logistics business generated stable revenue of SGD 27.3 million, with a slight increase of SGD 0.1 million compared to the previous fiscal year[108]. Profitability - Gross profit decreased from approximately SGD 66.5 million in FY2021 to approximately SGD 59.0 million in FY2022, a decline of about SGD 7.5 million, mainly due to reduced revenue from facility management services[9]. - The group's profit before tax increased from approximately SGD 34.2 million in FY2021 to approximately SGD 53.0 million in FY2022, an increase of about SGD 18.8 million (or 54.7%)[20]. - Net profit increased from approximately SGD 28.9 million in FY2021 to approximately SGD 47.5 million in FY2022, an increase of about SGD 18.6 million (or 64.6%)[22]. - Profit attributable to equity holders for fiscal year 2022 was SGD 45,838,000, representing a 63.5% increase from SGD 28,063,000 in fiscal year 2021[158]. Assets and Liabilities - Non-current assets increased from approximately SGD 286.3 million to about SGD 368.7 million, an increase of approximately SGD 82.5 million[23]. - Current liabilities increased from approximately SGD 89.7 million to about SGD 90.7 million, an increase of approximately SGD 1.0 million[25]. - The group’s non-current liabilities increased from approximately SGD 148.8 million to about SGD 186.0 million, an increase of approximately SGD 37.2 million[25]. - Cash and cash equivalents increased by approximately SGD 2.9 million to about SGD 39.7 million[27]. - Bank borrowings increased by approximately SGD 39.0 million, primarily used for property acquisitions and renovation costs[25]. - The group’s outstanding bank borrowings as of September 30, 2022, amounted to SGD 148.2 million[28]. Employee and Governance - The number of employees increased to 615 as of September 30, 2022, up from 567 on September 30, 2021[48]. - The company has a strong commitment to corporate governance and ethical business practices, aligning sustainability goals with overall strategic direction[59]. - The company received the Best Investor Relations Gold Award (Small Cap Category) in 2022, recognizing its commitment to good corporate governance and transparency[110]. Sustainability Initiatives - The company has installed solar panels at over 10 locations, generating more than 2,500 peak kilowatts of renewable energy as part of its sustainability strategy[60]. - The company has implemented energy-efficient measures, including the use of energy-saving bulbs and water-saving devices, to reduce its carbon footprint[60]. - The company aims to achieve net-zero emissions as a critical part of its sustainable strategy[60]. - The company is committed to achieving net-zero emissions through three key environmental measures: responsible consumption, a low-carbon future, and creating sustainable communities[110]. - The company continues to expand its internal renewable energy systems, including solar panels and electric vehicle charging systems[145]. Market and Expansion - The company is focusing on expanding its co-living business and has signed several new leases expected to generate revenue in fiscal year 2023[162]. - The company expects increased demand for serviced apartments in Asia as the global travel market continues to recover in 2023[103]. - The company plans to expand its container yard services in Singapore, Malaysia, and the ASEAN region, with a new facility at 7 Gul Avenue expected to be completed in Q3 FY2023[1]. - The company aims to establish a comprehensive business network across ASEAN to support customers and achieve sustainable growth[81]. Operational Performance - The occupancy rate for the company's properties in Singapore was reported at 95%[86]. - The occupancy rate for the Coliwoo co-living spaces reached 98% as of September 30, 2022, benefiting from increased demand for housing rentals in Singapore[103]. - The Work+Store division achieved a high occupancy rate of 95% and introduced new services including last-mile logistics and inventory management[104]. - The commercial division's occupancy rate also reached 98% due to a surge in demand for commercial space following the easing of COVID-19 restrictions[106].
LHN(01730) - 2022 - 年度财报