LHN swings to 3Q net loss of $3.7 mil

SINGAPORE (Aug 7): LHN Limited, the property management services group, swung to a 3Q17 net loss of $3.7 million compared to earnings of $1.9 million a year ago.

The group’s bottom line was affected mainly by $2.9 million in dual listing expenses related to its proposed dual primary listing on the Mainboard of The Stock Exchange of Hong Kong.

Revenue fell 2.1% to $26.2 million in 3Q17 from a year ago. The group’s Space Optimisation Business continued to be affected by Singapore’s lacklustre commercial and industrial property leasing market with revenue from this segment falling 14.8% year-on-year to $16.7 million.

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