Corporate digest

LHN Ltd

REAL estate management services group LHN's full-year net profit rose to S$24.1 million from S$8.2 million on the back of increases in gross profit and other income. Revenue was up 20.8 per cent at S$134.2 million for the year ended Sept 30, 2020. The rise was mainly due to the increase in revenue from residential properties under the space optimisation business and facilities management business. Cost of sales fell 15.7 per cent to S$70.6 million, owing to a decrease in rental costs due to the adoption of IFRS 16 accounting standards. Other income more than tripled to S$17.1 million after the adoption of IFRS 16, the job support scheme and rental rebates. Earnings per share was six Singapore cents, compared with 2.03 Singapore cents a year ago.

The group has proposed a final dividend of one Singapore cent per ordinary share, compared with 0.5 Singapore cent a year ago. Subject to shareholders' approval, the payout will be on Feb 22, 2021.