LHN Limited 41O says it expects to record a lower net profit after tax (NPAT) of “no less than approximately” $19 million for the 1HFY2023 ended March 31. This is 47.1% lower than the $35.9 million recorded in the corresponding period the year before.
The lower NPAT for the 1HFY2023 is mainly due to its space optimisation business which saw a fair value loss on the group’s investment properties and investment properties from its joint ventures (JVs) compared to the fair value gain in the 1HFY2022.
The decrease is expected to be partly offset by a one-off gain on the disposal of an associate.
Shares in LHN closed 2 cents higher or 7.69% up at 28 cents on May 4.
