However, revenue has gained 27.2% y-o-y to $57.5 million from $42.9 million last year. The increase was primarily attributed to a significant increase in revenue from the co-living business in its Space Optimisation Business as well as the Facilities Management Business.
Co-living operator LHN announced that its 1HFY2024 ended March earnings have declined by 23.4% y-o-y to $13.0 million from $16.9 million a year ago.
The group’s profit before tax declined 25.0% y-o-y to $15.3 million. Further removing the effect of fair value loss, gain on disposal of associate and discontinued operations from the logistics group, the group would have recorded a 13.7% yo-y growth in 1HFY2024 adjusted profit before tax to $17.7 million, compared to $15.6 million in 1HFY2023.
