LHN expects at least S$17m in H1 net profit before tax

REAL estate management services provider LHN expects a higher net profit before tax of "no less than approximately S$17 million" for H1 2021, an estimated 4.5 times increase from the year-ago period, the company said on Tuesday in a preliminary update on the group's unaudited financial results.

The growth comes on the back of gains from subleases, lower fair-value loss on investment properties, short-term contracts for the management of dormitories expected to end in the second half of the financial year, as well as a reduction in rental costs due to rental rebates received for the carpark division.

LHN shares closed flat at 19.8 Singapore cents on Tuesday.