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Chuan Hup Holdings 1HFY2024 earnings down 73.8% y-o-y to US$380,000

Bryan Wu
Bryan Wu • 1 min read
Chuan Hup Holdings 1HFY2024 earnings down 73.8% y-o-y to US$380,000
Earnings per share (EPS) for the half-year period also shrunk to 0.04 US cents compared to 0.16 US cents in 1HFY2023. Photo: Chuan Hup
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Chuan Hup Holdingshas reported earnings of US$380,000 ($507,500) for its 1HFY2024 ended Dec 31, 2023, down 73.8% compared to its earnings of US$1.45 million in the same period last year.

Earnings per share (EPS) for the half-year period also shrunk to 0.04 US cents compared to 0.16 US cents in 1HFY2023.

The decrease in net profit was mainly due to the absence of the US$1.6 million gain on the acquisition of Finbar Group's shares in 1HFY2023 and higher depreciation and amortisation expenses recognised in relation to the student accommodation business of US$0.7 million in 1HFY2024.

The company was, however, able to record a revenue of $3.7 million in 1HFY2024, up 46.0% y-o-y, from the additional rental income of US$0.9 million from its student accommodation business acquired in May 2023.

Chuan Hup also recorded an increase in gains from investment trading and interest income of US$0.9 million in 1HFY2024.

As at Dec 31, 2023, cash and cash equivalents stood at US$26.6 million

See also: Newly-listed Lum Chang Creations earnings surge to $12.9 mil for FY2025; proposes final dividend of 2.2 cents

Shares in Chuan Hup closed unchanged at 17.3 cents on Feb 2.

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