LHN 41O

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Financials

LHN Limited Annual Report 2025

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14 tables

Group Profit or Loss and Comprehensive Income

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Group Profit or Loss and Comprehensive Income from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Profit or Loss and Comprehensive Income
RevenueSGD thousand	131,487	121,021	PDF p. 91
Cost of salesSGD thousand	(55,922)	(58,808)	PDF p. 91
Gross profitSGD thousand	75,565	62,213	PDF p. 91
Impairment loss on financial assetsSGD thousand	(529)	(224)	PDF p. 91
Other gains or losses net and other incomeSGD thousand	14,191	6,548	PDF p. 91
Selling and distribution expensesSGD thousand	(8,311)	(2,941)	PDF p. 91
Administrative expensesSGD thousand	(29,339)	(21,754)	PDF p. 91
Finance cost netSGD thousand	(10,871)	(11,815)	PDF p. 91
Share of results of associate and joint ventures net of taxSGD thousand	3,605	8,935	PDF p. 91
Fair value loss or gain on investment properties netSGD thousand	(18,046)	10,459	PDF p. 91
Profit before taxationSGD thousand	26,265	51,421	PDF p. 91
TaxationSGD thousand	(4,900)	(3,548)	PDF p. 91
Net profitSGD thousand	21,365	47,873	PDF p. 91
Profit attributable to equity holdersSGD thousand	20,066	47,290	PDF p. 91
Profit attributable to non-controlling interestsSGD thousand	1,299	583	PDF p. 91
Total profit attributableSGD thousand	21,365	47,873	PDF p. 91
Currency translation differences arising from consolidationSGD thousand	213	(738)	PDF p. 91
Revaluation loss or gain on leasehold properties netSGD thousand	(655)	392	PDF p. 91
Fair value gain on equity investment at FVOCISGD thousand	36	176	PDF p. 91
Share of other comprehensive income of joint ventureSGD thousand	96	385	PDF p. 91
Other comprehensive income or lossSGD thousand	(310)	215	PDF p. 91
Total comprehensive incomeSGD thousand	21,055	48,088	PDF p. 91
Comprehensive income attributable to equity holdersSGD thousand	19,755	47,504	PDF p. 91
Comprehensive income attributable to non-controlling interestsSGD thousand	1,300	584	PDF p. 91
Total comprehensive income attributableSGD thousand	21,055	48,088	PDF p. 91

Definitions & sources

Original report: PDF p. 91 ↗

Group Earnings per Share

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Group Earnings per Share from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Earnings per Share
Basic and diluted earnings per shareSingapore cents per share	4.76	11.48	PDF p. 91

Definitions & sources

Original report: PDF p. 91 ↗

Group Financial Position

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Group Financial Position from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Financial Position
Property plant and equipmentSGD thousand	29,881	31,719	PDF p. 92
Right-of-use assetsSGD thousand	10,621	13,651	PDF p. 92
Investment propertiesSGD thousand	405,200	457,978	PDF p. 92
Investment in associates and joint venturesSGD thousand	41,153	34,098	PDF p. 92
Other financial assetsSGD thousand	223	493	PDF p. 92
Deferred tax assetsSGD thousand	466	55	PDF p. 92
Trade and other receivables non-currentSGD thousand	9,913	11,324	PDF p. 92
Loans to associates and joint venturesSGD thousand	12,943	16,137	PDF p. 92
Prepayments non-currentSGD thousand	747	279	PDF p. 92
Finance lease receivables non-currentSGD thousand	11,132	3,864	PDF p. 92
Fixed deposits with banks non-currentSGD thousand	–	500	PDF p. 92
Total non-current assetsSGD thousand	522,279	570,098	PDF p. 92
Development properties held for saleSGD thousand	37,529	43,866	PDF p. 92
InventoriesSGD thousand	102	44	PDF p. 92
Trade and other receivables currentSGD thousand	12,205	13,052	PDF p. 92
Prepayments currentSGD thousand	1,869	1,760	PDF p. 92
Finance lease receivables currentSGD thousand	14,569	17,297	PDF p. 92
Fixed deposits with banks currentSGD thousand	16,462	4,159	PDF p. 92
Cash and bank balancesSGD thousand	52,391	46,503	PDF p. 92
Current assets excluding disposal groupSGD thousand	135,127	126,681	PDF p. 92
Assets of disposal group classified as held for saleSGD thousand	44,286	–	PDF p. 92
Total current assetsSGD thousand	179,413	126,681	PDF p. 92
Total assetsSGD thousand	701,692	696,779	PDF p. 92
Share capitalSGD thousand	71,718	68,340	PDF p. 92
ReservesSGD thousand	192,962	185,841	PDF p. 92
Equity attributable to equity holdersSGD thousand	264,680	254,181	PDF p. 92
Non-controlling interestsSGD thousand	4,155	2,855	PDF p. 92
Total equitySGD thousand	268,835	257,036	PDF p. 92
Deferred tax liabilitiesSGD thousand	6,764	6,396	PDF p. 92
Other payables non-currentSGD thousand	13,651	16,590	PDF p. 92
Provisions non-currentSGD thousand	1,404	345	PDF p. 92
Bank borrowings non-currentSGD thousand	220,309	255,837	PDF p. 92
Lease liabilities non-currentSGD thousand	59,701	64,227	PDF p. 92
Total non-current liabilitiesSGD thousand	301,829	343,395	PDF p. 92
Trade and other payables currentSGD thousand	41,281	32,904	PDF p. 92
Provisions currentSGD thousand	642	337	PDF p. 92
Bank borrowings currentSGD thousand	18,897	25,747	PDF p. 92
Lease liabilities currentSGD thousand	36,717	33,552	PDF p. 92
Current income tax liabilitiesSGD thousand	5,543	3,808	PDF p. 92
Current liabilities excluding disposal groupSGD thousand	103,080	96,348	PDF p. 92
Liabilities directly associated with disposal group classified as held for saleSGD thousand	27,948	–	PDF p. 92
Total current liabilitiesSGD thousand	131,028	96,348	PDF p. 92
Total liabilitiesSGD thousand	432,857	439,743	PDF p. 92
Total equity and liabilitiesSGD thousand	701,692	696,779	PDF p. 92

Definitions & sources

Original report: PDF p. 92 ↗

Group Cash Flows from Operating Activities

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Group Cash Flows from Operating Activities from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Cash Flows from Operating Activities
Net profitSGD thousand	21,365	47,873	PDF p. 95
TaxationSGD thousand	4,900	3,548	PDF p. 95
Share of results of associates and joint ventures net of taxSGD thousand	(3,605)	(8,935)	PDF p. 95
Depreciation of property plant and equipmentSGD thousand	4,360	6,949	PDF p. 95
Depreciation of right-of-use assetsSGD thousand	12,951	12,585	PDF p. 95
Gain on disposal of property plant and equipmentSGD thousand	(9)	(73)	PDF p. 95
Write-off of property plant and equipmentSGD thousand	56	10	PDF p. 95
Fair value loss or gain on investment propertiesSGD thousand	18,046	(10,459)	PDF p. 95
Loss on disposal of subsidiarySGD thousand	40	–	PDF p. 95
Gain from net investment in subleasesSGD thousand	(10,241)	(1,808)	PDF p. 95
Lease modification gains or losses netSGD thousand	(16)	18	PDF p. 95
Loss on termination of finance lease receivablesSGD thousand	181	133	PDF p. 95
Fair value loss on financial assets at FVTPLSGD thousand	339	–	PDF p. 95
Impairment loss on trade and other receivablesSGD thousand	529	224	PDF p. 95
Listing expensesSGD thousand	1,149	–	PDF p. 95
Interest incomeSGD thousand	(1,883)	(2,437)	PDF p. 95
Finance costSGD thousand	10,871	11,815	PDF p. 95
Operating cash flows before working capital changesSGD thousand	59,033	59,443	PDF p. 95
Development propertiesSGD thousand	5,491	(13,059)	PDF p. 95
InventoriesSGD thousand	(58)	(31)	PDF p. 95
Trade and other receivablesSGD thousand	3,426	(10,486)	PDF p. 95
Trade and other payablesSGD thousand	3,311	(3,910)	PDF p. 95
Cash generated from operationsSGD thousand	71,203	31,957	PDF p. 95
Interest expenses paidSGD thousand	–	(533)	PDF p. 95
Income tax paid netSGD thousand	(2,992)	(3,015)	PDF p. 95
Net cash generated from operating activitiesSGD thousand	68,211	28,409	PDF p. 95

Definitions & sources

Original report: PDF p. 95 ↗

Group Cash Flows from Investing Activities

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Group Cash Flows from Investing Activities from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Cash Flows from Investing Activities
Additions to property plant and equipmentSGD thousand	(4,105)	(4,882)	PDF p. 95
Additions to investment propertiesSGD thousand	(14,089)	(116,994)	PDF p. 95
Interest capitalised on investment propertiesSGD thousand	(2,885)	(1,021)	PDF p. 95
Deposits paid for acquisition of investment propertySGD thousand	(223)	–	PDF p. 95
Deposits received from third partiesSGD thousand	461	–	PDF p. 95
Acquisition of joint ventureSGD thousand	(1)	(50)	PDF p. 95
Loans and advances to associates and joint venturesSGD thousand	(2,247)	(6,302)	PDF p. 95
Repayment of loan from associates and joint venturesSGD thousand	1,225	2,920	PDF p. 95
Proceeds from disposal of property plant and equipmentSGD thousand	76	103	PDF p. 95
Proceeds from disposal of subsidiary net of cash disposedSGD thousand	15,600	–	PDF p. 95
Receipts of principal from finance lease receivablesSGD thousand	22,157	21,329	PDF p. 95
Interest received from finance lease receivablesSGD thousand	672	921	PDF p. 95
Other interest receivedSGD thousand	407	1,300	PDF p. 95
Dividend from associates and joint venturesSGD thousand	–	2,860	PDF p. 95
Reclassification from long-term to current fixed depositSGD thousand	500	–	PDF p. 95
Net cash generated from or used in investing activitiesSGD thousand	17,548	(99,816)	PDF p. 95

Definitions & sources

Original report: PDF p. 95 ↗

Group Cash Flows from Financing Activities

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Group Cash Flows from Financing Activities from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Cash Flows from Financing Activities
Increase in restricted bank deposits and pledged fixed depositsSGD thousand	(797)	(3,532)	PDF p. 96
Proceeds from bank borrowingsSGD thousand	34,331	154,133	PDF p. 96
Repayment of bank borrowingsSGD thousand	(42,275)	(40,850)	PDF p. 96
Repayment of lease liabilities principalSGD thousand	(41,219)	(39,225)	PDF p. 96
Loans from non-controlling interestsSGD thousand	2,950	6,330	PDF p. 96
Capital contribution from non-controlling interestsSGD thousand	–	416	PDF p. 96
Interest expense paidSGD thousand	(10,664)	(11,489)	PDF p. 96
Listing expenses paidSGD thousand	(994)	–	PDF p. 96
Dividends paid to equity holdersSGD thousand	(9,256)	(9,517)	PDF p. 96
Net cash used in or generated from financing activitiesSGD thousand	(67,924)	56,266	PDF p. 96

Definitions & sources

Original report: PDF p. 96 ↗

Group Cash and Cash Equivalents Reconciliation

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Group Cash and Cash Equivalents Reconciliation from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Cash and Cash Equivalents Reconciliation
Net increase or decrease in cash and cash equivalentsSGD thousand	17,835	(15,141)	PDF p. 96
Cash and cash equivalents at beginning of yearSGD thousand	43,333	58,580	PDF p. 96
Exchange losses on cash and cash equivalentsSGD thousand	(12)	(106)	PDF p. 96
Cash and cash equivalents at end of yearSGD thousand	61,156	43,333	PDF p. 96

Definitions & sources

Original report: PDF p. 96 ↗

Group Cash and Bank Deposits Note

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Group Cash and Bank Deposits Note from LHN Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group Cash and Bank Deposits Note
Cash and fixed deposits included in disposal group held for saleSGD thousand	429	–	PDF p. 96
Cash and bank balancesSGD thousand	52,391	46,503	PDF p. 96
Fixed deposits maturing within one yearSGD thousand	16,462	4,159	PDF p. 96
Cash and bank deposits totalSGD thousand	69,282	50,662	PDF p. 96
Restricted bank deposits and pledged fixed deposits deductedSGD thousand	(8,126)	(7,329)	PDF p. 96
Cash and cash equivalents per consolidated cash flowsSGD thousand	61,156	43,333	PDF p. 96

Definitions & sources

Original report: PDF p. 96 ↗

Company Financial Position

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Company Financial Position from LHN Limited Annual Report 2025
Metric / unit	2025Company	2024Company	Source
Company Financial Position
Investment in subsidiariesSGD thousand	32,727	32,727	PDF p. 93
Prepayments non-currentSGD thousand	11	–	PDF p. 93
Total non-current assetsSGD thousand	32,738	32,727	PDF p. 93
Amount due from subsidiariesSGD thousand	43,881	39,794	PDF p. 93
Other receivablesSGD thousand	18	18	PDF p. 93
Prepayments currentSGD thousand	41	33	PDF p. 93
Cash and bank balancesSGD thousand	13,032	10,649	PDF p. 93
Total current assetsSGD thousand	56,972	50,494	PDF p. 93
Total assetsSGD thousand	89,710	83,221	PDF p. 93
Share capitalSGD thousand	71,718	68,340	PDF p. 93
ReservesSGD thousand	14,101	12,671	PDF p. 93
Total equitySGD thousand	85,819	81,011	PDF p. 93
Trade and other payablesSGD thousand	3,653	1,904	PDF p. 93
Current income tax liabilitiesSGD thousand	238	306	PDF p. 93
Total liabilitiesSGD thousand	3,891	2,210	PDF p. 93
Total equity and liabilitiesSGD thousand	89,710	83,221	PDF p. 93

Definitions & sources

Original report: PDF p. 93 ↗

Group Financing Liabilities Reconciliation 2025

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Group Financing Liabilities Reconciliation 2025 from LHN Limited Annual Report 2025
Metric / unit	2025GroupOpening balance	2025GroupNet receipts and payments	2025GroupAdditions	2025GroupLease modification	2025GroupDisposal of subsidiary	2025GroupInterest expense	2025GroupCurrency translation	2025GroupReclassified to disposal group	2025GroupClosing balance	Source
Group Financing Liabilities Reconciliation 2025
Bank borrowingsSGD thousand	281,584	(18,364)	–	–	(9,940)	10,420	–	(24,494)	239,206	PDF p. 96
Lease liabilitiesSGD thousand	97,779	(44,248)	15,855	24,084	–	3,029	(8)	(73)	96,418	PDF p. 96
Loans from non-controlling interestsSGD thousand	10,683	2,950	–	–	–	460	–	(2,463)	11,630	PDF p. 96

Definitions & sources

Original report: PDF p. 96 ↗

Group Financing Liabilities Reconciliation 2024

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Group Financing Liabilities Reconciliation 2024 from LHN Limited Annual Report 2025
Metric / unit	2024GroupOpening balance	2024GroupNet receipts and payments	2024GroupAdditions	2024GroupLease modification	2024GroupDisposal of subsidiary	2024GroupInterest expense	2024GroupCurrency translation	2024GroupReclassified to disposal group	2024GroupClosing balance	Source
Group Financing Liabilities Reconciliation 2024
Bank borrowingsSGD thousand	168,299	103,094	–	–	–	10,189	2	–	281,584	PDF p. 96
Lease liabilitiesSGD thousand	111,956	(42,379)	25,007	(1)	–	3,154	42	–	97,779	PDF p. 96
Loans from non-controlling interestsSGD thousand	4,113	6,330	–	–	–	240	–	–	10,683	PDF p. 96

Definitions & sources

Original report: PDF p. 96 ↗

Group Changes in Equity 2025

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Group Changes in Equity 2025 from LHN Limited Annual Report 2025
Metric / unit	2025GroupShare capital	2025GroupRetained profits	2025GroupMerger reserve	2025GroupFair value reserve	2025GroupAsset revaluation reserve	2025GroupCurrency translation reserve	2025GroupEquity attributable to equity holders	2025GroupNon-controlling interests	2025GroupTotal equity	Source
Group Changes in Equity 2025
Opening balance at 1 October 2024SGD thousand	68,340	214,408	(30,727)	(1,174)	4,984	(1,650)	254,181	2,855	257,036	PDF p. 94
Net profitSGD thousand	–	20,066	–	–	–	–	20,066	1,299	21,365	PDF p. 94
Other comprehensive incomeSGD thousand	–	–	–	36	(559)	212	(311)	1	(310)	PDF p. 94
Total comprehensive incomeSGD thousand	–	20,066	–	36	(559)	212	19,755	1,300	21,055	PDF p. 94
Issue of shares pursuant to Scrip Dividend SchemeSGD thousand	3,378	–	–	–	–	–	3,378	–	3,378	PDF p. 94
Dividends paidSGD thousand	–	(12,634)	–	–	–	–	(12,634)	–	(12,634)	PDF p. 94
Total transactions with equity holdersSGD thousand	3,378	(12,634)	–	–	–	–	(9,256)	–	(9,256)	PDF p. 94
Closing balance at 30 September 2025SGD thousand	71,718	221,840	(30,727)	(1,138)	4,425	(1,438)	264,680	4,155	268,835	PDF p. 94

Definitions & sources

Original report: PDF p. 94 ↗

Group Changes in Equity 2024

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Group Changes in Equity 2024 from LHN Limited Annual Report 2025
Metric / unit	2024GroupShare capital	2024GroupRetained profits	2024GroupMerger reserve	2024GroupFair value reserve	2024GroupAsset revaluation reserve	2024GroupCurrency translation reserve	2024GroupEquity attributable to equity holders	2024GroupNon-controlling interests	2024GroupTotal equity	Source
Group Changes in Equity 2024
Opening balance at 1 October 2023SGD thousand	65,496	179,479	(30,727)	(1,350)	4,207	(911)	216,194	1,855	218,049	PDF p. 94
Net profitSGD thousand	–	47,290	–	–	–	–	47,290	583	47,873	PDF p. 94
Other comprehensive incomeSGD thousand	–	–	–	176	777	(739)	214	1	215	PDF p. 94
Total comprehensive incomeSGD thousand	–	47,290	–	176	777	(739)	47,504	584	48,088	PDF p. 94
Issue of shares pursuant to Scrip Dividend SchemeSGD thousand	2,844	–	–	–	–	–	2,844	–	2,844	PDF p. 94
Dividends paidSGD thousand	–	(12,361)	–	–	–	–	(12,361)	–	(12,361)	PDF p. 94
Capital contribution from non-controlling interestsSGD thousand	–	–	–	–	–	–	–	416	416	PDF p. 94
Total transactions with equity holdersSGD thousand	2,844	(12,361)	–	–	–	–	(9,517)	416	(9,101)	PDF p. 94
Closing balance at 30 September 2024SGD thousand	68,340	214,408	(30,727)	(1,174)	4,984	(1,650)	254,181	2,855	257,036	PDF p. 94

Definitions & sources

Original report: PDF p. 94 ↗

Five-year Financial Summary

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Five-year Financial Summary from LHN Limited Annual Report 2025
Metric / unit	2021Group	2022Group	2023Group	2024Group	2025Group	Source
Five-year Financial Summary
Profit before income tax continuing and discontinued operationsSGD thousand	34,258	53,012	44,289	51,421	26,265	PDF p. 19
Profit attributable to equity holders continuing and discontinued operationsSGD thousand	28,063	45,838	38,211	47,290	20,066	PDF p. 19
Equity attributable to ownersSGD thousand	145,726	185,904	216,194	254,181	264,680	PDF p. 19
Non-current assetsSGD thousand	286,269	368,739	416,288	570,098	522,279	PDF p. 19
Current assetsSGD thousand	100,539	100,147	137,785	126,681	179,413	PDF p. 19
Current liabilitiesSGD thousand	89,714	90,679	96,880	96,348	131,028	PDF p. 19
Non-current liabilitiesSGD thousand	148,811	186,029	239,144	343,395	301,829	PDF p. 19
Cash and cash equivalentsSGD thousand	36,801	39,743	58,580	43,333	61,156	PDF p. 19
Net asset value per shareSingapore cents per share	35.63	45.46	52.87	60.77	61.93	PDF p. 19
Earnings per shareSingapore cents per share	6.94	11.21	9.34	11.48	4.76	PDF p. 19

Definitions & sources

Original report: PDF p. 19 ↗

Where the money comes from

Segment information

By business

Segment breakdown by business segment, year ended 30 September 2025 21 lines

Segment breakdown by business segment, year ended 30 September 2025
Item / unit	2025Industrial	2025Commercial	2025Residential – Coliwoo	2025Residential – 85 SOHO & Others	2025Property development	2025Facilities management	2025Energy	2025Corporate and eliminations	2025Consolidated	Source
Sales
Total segment revenueS$'000	26,444	3,966	46,733	1,158	14,130	40,317	3,999	11,892	148,639	PDF p. 123
Inter-segment revenueS$'000	(225)	(801)	(27)	–	–	(2,681)	(1,946)	(11,472)	(17,152)	PDF p. 123
Sales to externalS$'000	26,219	3,165	46,706	1,158	14,130	37,636	2,053	420	131,487	PDF p. 123
Results
Segment operating resultsS$'000	16,558	1,743	30,441	(415)	1,557	5,056	80	(5,286)	49,734	PDF p. 123
Loss on disposal ofS$'000	–	–	(40)	–	–	–	–	–	(40)	PDF p. 123
Fair value lossS$'000	(9,599)	(762)	(7,382)	(303)	–	–	–	–	(18,046)	PDF p. 123
Interest incomeS$'000	368	233	984	4	8	153	34	99	1,883	PDF p. 123
Finance costS$'000	(2,523)	(412)	(5,295)	(320)	(1,251)	(502)	(66)	(502)	(10,871)	PDF p. 123
Subtotal (unlabelled) before share of results of associates and joint venturesS$'000	4,804	802	18,708	(1,034)	314	4,707	48	(5,689)	22,660	PDF p. 123
Share of results of associates and joint ventures
– Operating resultsS$'000	3,442	–	27	–	–	68	(43)	(1)	3,493	PDF p. 123
– Fair value (loss)/S$'000	(1,082)	–	1,194	–	–	–	–	–	112	PDF p. 123
Total share of resultsS$'000	2,360	–	1,221	–	–	68	(43)	(1)	3,605	PDF p. 123
Results
Profit before taxationS$'000	7,164	802	19,929	(1,034)	314	4,775	5	(5,690)	26,265	PDF p. 123
Included in segments operating results
Depreciation ofS$'000	609	199	793	319	–	1,355	282	803	4,360	PDF p. 123
Depreciation of right-S$'000	–	2	37	100	–	12,714	26	72	12,951	PDF p. 123
Write off of property,S$'000	–	–	40	–	–	15	1	–	56	PDF p. 123
Assets
Operating and capitalS$'000	126,194	15,213	351,976	18,833	38,582	28,106	7,427	29,919	616,250	PDF p. 123
Assets associated withS$'000	–	–	44,286	–	–	–	–	–	44,286	PDF p. 123
Investment in jointS$'000	24,797	–	14,987	–	–	1,250	119	–	41,153	PDF p. 123
Liabilities
Total segmentS$'000	88,752	15,164	256,954	8,247	23,525	15,553	2,813	15,676	426,684	PDF p. 123
Capital expenditure
Capital expenditures1S$'000	1,087	465	20,762	28	–	684	1,994	267	25,287	PDF p. 123

Notes

Footnote 1: Excludes initial additions to right-of-use investment properties with corresponding lease liabilities of S$13,717,000.

Taxation, Net profit and Total segment assets are printed only in the Consolidated column. Row 'Subtotal' is unlabelled in source.

Segment breakdown by business segment, year ended 30 September 2024 (comparatives restated for Coliwoo) 20 lines

Segment breakdown by business segment, year ended 30 September 2024 (comparatives restated for Coliwoo)
Item / unit	2024Industrial	2024Commercial	2024Residential – Coliwoo	2024Residential – 85 SOHO & Others	2024Property development	2024Facilities management	2024Energy	2024Corporate and eliminations	2024Consolidated	Source
Sales
Total segment revenue^S$'000	25,476	5,115	52,154	1,147	–	38,144	3,813	13,694	139,543	PDF p. 124
Inter-segment revenue^S$'000	(155)	(801)	(25)	–	–	(2,596)	(2,232)	(12,713)	(18,522)	PDF p. 124
Sales to externalS$'000	25,321	4,314	52,129	1,147	–	35,548	1,581	981	121,021	PDF p. 124
Results
Segment operatingS$'000	15,533	1,232	21,419	(475)	(29)	3,052	755	(82)	41,405	PDF p. 124
Fair value (loss)/S$'000	(4,954)	(1,409)	16,614	208	–	–	–	–	10,459	PDF p. 124
Interest incomeS$'000	540	377	440	2	9	134	38	897	2,437	PDF p. 124
Finance costS$'000	(3,273)	(683)	(6,162)	(435)	(18)	(553)	(54)	(637)	(11,815)	PDF p. 124
Subtotal (unlabelled) before share of results of associates and joint venturesS$'000	7,846	(483)	32,311	(700)	(38)	2,633	739	178	42,486	PDF p. 124
Share of results of associates and joint ventures
– Operating resultsS$'000	3,455	–	(770)	–	–	(362)	(62)	–	2,261	PDF p. 124
– Gain on disposal ofS$'000	–	–	–	–	–	2,396	–	–	2,396	PDF p. 124
– Fair value gainS$'000	934	–	3,336	–	–	8	–	–	4,278	PDF p. 124
Total share of results ofS$'000	4,389	–	2,566	–	–	2,042	(62)	–	8,935	PDF p. 124
Results
Profit before taxationS$'000	12,235	(483)	34,877	(700)	(38)	4,675	677	178	51,421	PDF p. 124
Included in segments operating results
Depreciation ofS$'000	900	759	2,378	514	–	1,328	198	872	6,949	PDF p. 124
Depreciation of right-of-S$'000	–	2	29	109	–	12,370	26	49	12,585	PDF p. 124
Write off of property,S$'000	–	–	–	–	–	10	–	–	10	PDF p. 124
Assets
Operating and capitalS$'000	130,608	18,673	383,045	18,433	44,819	30,535	7,199	29,314	662,626	PDF p. 124
Investment in jointS$'000	24,836	–	7,918	–	–	1,182	162	–	34,098	PDF p. 124
Liabilities
Total segmentS$'000	89,293	18,195	247,230	8,853	33,157	18,827	3,052	15,949	434,556	PDF p. 124
Capital expenditure
Capital expenditures1S$'000	121	148	134,203	68	–	1,936	775	766	138,017	PDF p. 124

Notes

Footnote 1: Excludes initial additions to right-of-use investment properties with corresponding lease liabilities of S$25,007,000.

^ As Coliwoo segment is identified as a reportable segment in the current year, comparative have been restated to reflect the newly reportable segment.

Taxation, Net profit and Total segment assets are printed only in the Consolidated column.

Reconciliation of segments' total assets and total liabilities 7 lines

Reconciliation of segments' total assets and total liabilities — Group
Item / unit	2025as at 30 September 2025	2024as at 30 September 2024	Source
Reportable segments' assets are reconciled to total assets
Segment assets1S$'000	701,689	696,724	PDF p. 125
Deferred tax assetsS$'000	3	55	PDF p. 125
Total assetsS$'000	701,692	696,779	PDF p. 125
Reportable segments' liabilities are reconciled to total liabilities
Segment liabilities2S$'000	426,684	434,556	PDF p. 125
Current income tax liabilitiesS$'000	2,985	1,633	PDF p. 125
Deferred tax liabilitiesS$'000	3,188	3,554	PDF p. 125
Total liabilitiesS$'000	432,857	439,743	PDF p. 125

Notes

1 Deferred tax assets of S$463,000 (2024: nil) from Coliwoo segment is included within segment assets.

2 Current income tax liabilities of S$2,558,000 (2024: S$2,175,000) and deferred tax liabilities of S$3,576,000 (2024: S$2,842,000) from Coliwoo segment are included within segment liabilities.

By geography

Geographical segment – Revenue from external customers 6 lines

Geographical segment – Revenue from external customers — Group revenue
Item / unit	2025year ended 30 September 2025	2024year ended 30 September 2024	Source
Revenue
SingaporeS$'000	128,511	116,298	PDF p. 125
Hong KongS$'000	1,342	3,086	PDF p. 125
MyanmarS$'000	476	585	PDF p. 125
IndonesiaS$'000	476	490	PDF p. 125
CambodiaS$'000	682	562	PDF p. 125
Total (unlabelled)S$'000	131,487	121,021	PDF p. 125

Notes

Distribution of the Group's revenue from external customers based on the location where goods are sold, services are provided or properties are located. Total row is unlabelled.

Geographical segment – Non-current assets excluding deferred tax assets 8 lines

Geographical segment – Non-current assets excluding deferred tax assets — Group non-current assets
Item / unit	2025as at 30 September 2025	2024as at 30 September 2024	Source
Non-current assets
SingaporeS$'000	499,404	546,706	PDF p. 125
Hong KongS$'000	–	78	PDF p. 125
MyanmarS$'000	594	739	PDF p. 125
IndonesiaS$'000	5,087	5,572	PDF p. 125
CambodiaS$'000	15,312	15,562	PDF p. 125
People’s Republic of ChinaS$'000	1,221	1,381	PDF p. 125
OthersS$'000	195	5	PDF p. 125
Total (unlabelled)S$'000	521,813	570,043	PDF p. 125

Notes

Distribution of non-current assets excluding deferred tax assets based on geographical location of customers or properties. Total row is unlabelled.

Debt

Borrowings

Bank borrowings – maturity

Bank borrowings – maturity — Group
Item / unit	2025as at 30 September 2025, S$'000	2024as at 30 September 2024, S$'000	Source
Non-current
Between one to two yearsS$'000	89,415	42,318	PDF p. 160
Between two to five yearsS$'000	57,129	46,028	PDF p. 160
More than five yearsS$'000	73,765	167,491	PDF p. 160
Current
Less than one yearS$'000	18,897	25,747	PDF p. 160

Notes

Non-current subtotal printed as 220,309 (2025) and 255,837 (2024); total bank borrowings 239,206 (2025) and 281,584 (2024).

Total bank borrowings of S$235,800,000 as at 30 September 2025 (2024: S$276,600,000) are secured by (i) legal mortgage of certain investment properties (Note 15), leasehold properties (Note 13) and development properties (Note 25) in Singapore and Cambodia; (ii) corporate guarantees provided by the Group; (iii) assignment of rental proceeds of the mortgaged properties; and (iv) personal guarantees provided by non-controlling shareholders of certain non-wholly owned subsidiaries, where applicable.

Interest is charged between 2.00% and 7.49% (2024: between 1.38% and 6.33%) per annum.

Several major bank borrowings with carrying amount of S$213,816,000 (2024: S$221,290,000) are subject to financial covenants (minimum loan-to-value ratio and net worth); the Group complied.

Lease liabilities – maturity

Lease liabilities – maturity — Group
Item / unit	2025as at 30 September 2025, S$'000	2024as at 30 September 2024, S$'000	Source
Gross lease liabilities – minimum lease payments
Less than one yearS$'000	39,057	36,083	PDF p. 161
Between one to two yearsS$'000	32,776	24,150	PDF p. 161
Between two to five yearsS$'000	28,396	42,482	PDF p. 161
More than five yearsS$'000	683	991	PDF p. 161
Future finance charges on leasesS$'000	(4,494)	(5,927)	PDF p. 161
Present value of lease liabilitiesS$'000	96,418	97,779	PDF p. 161
Present value of lease liabilities
Less than one yearS$'000	36,717	33,552	PDF p. 161
Between one to two yearsS$'000	31,456	22,494	PDF p. 161
Between two to five yearsS$'000	27,634	40,854	PDF p. 161
More than five yearsS$'000	611	879	PDF p. 161
Current
Lease liabilities from hire purchase arrangementsS$'000	75	115	PDF p. 161
Lease liabilities from right-of-use lease arrangementsS$'000	36,642	33,437	PDF p. 161
Non-current
Lease liabilities from hire purchase arrangementsS$'000	41	116	PDF p. 161
Lease liabilities from right-of-use lease arrangementsS$'000	59,660	64,111	PDF p. 161

Notes

Printed subtotals: gross minimum lease payments 100,912 / 103,706; current lease liabilities 36,717 / 33,552; non-current 59,701 / 64,227; total 96,418 / 97,779.

Borrowing notes 3 tables

Fixed and variable rate bank borrowings

Fixed and variable rate bank borrowings — Group
Item / unit	2025as at 30 September 2025, S$'000	2024as at 30 September 2024, S$'000	Source
Bank borrowings by rate type
Fixed rate bank borrowingsS$'000	45,958	159,696	PDF p. 160
Variable rate bank borrowingsS$'000	193,248	121,888	PDF p. 160

Notes

Interest is charged between 2.00% and 7.49% (2024: between 1.38% and 6.33%) per annum.

Non-current bank borrowings – carrying amount and fair value

Non-current bank borrowings – carrying amount and fair value — Group
Item / unit	2025as at 30 September 2025, S$'000	2024as at 30 September 2024, S$'000	Source
Carrying Amount \| Fair Value
Non-current borrowings (as at 30 September 2025)S$'000	220,309	218,398	PDF p. 161
Non-current borrowings (as at 30 September 2024)S$'000	255,837	244,299	PDF p. 161

Notes

Values are Carrying Amount then Fair Value for the stated date. Carrying amounts of current bank borrowings approximate their fair value.

Capital risk – gearing ratios (debt components, Group)

Capital risk – gearing ratios (debt components, Group) — Group
Item / unit	2025as at 30 September 2025, S$'000	2024as at 30 September 2024, S$'000	Source
Gearing
Bank borrowingsS$'000	239,206	281,584	PDF p. 117
Lease liabilitiesS$'000	96,418	97,779	PDF p. 117
Bank borrowings and lease liabilities included in disposal group held for sale (Note 28)S$'000	24,567	–	PDF p. 117
Total debtS$'000	360,191	379,363	PDF p. 117
Net debtS$'000	290,909	328,201	PDF p. 117
Gearing ratioratio	0.57	0.60	PDF p. 117
Net gearing ratioratio	0.46	0.52	PDF p. 117

Notes

Gearing ratio = total debt / total capital; total debt = bank borrowings + lease liabilities; net gearing = net debt / total capital.

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Dividend Policy	The Company will declare and/or recommend the payment of dividends to the Shareholders for approval after considering the Company’s ability to pay dividends, which will depend upon, among other things, its cash flow, general business conditions and strategies, current and future operations, statutory, contractual and regulatory restrictions and so on.	Company	PDF p. 70

Dividends declared and proposed

Item	Value	Period / scope	Source
final dividend	1.0 Singapore cent per share	Proposed for FY2025 (year ended 30 September 2025), per ordinary share; paid wholly in cash	PDF p. 71
special dividend	2.0 Singapore cents per share	Proposed for FY2025 (year ended 30 September 2025), per ordinary share; scrip option	PDF p. 71
Interim dividend paid in respect of the current financial year of 1.0 Singapore cent (2024: 1.0 Singapore cent) per share	1.0 Singapore cent per share	FY2025 interim dividend; comparative FY2024 also 1.0 Singapore cent per share; Group amount S$4,272 thousand (2024: S$4,182 thousand)	PDF p. 162
Final dividend paid in respect of the previous financial year of 1.0 Singapore cent (2024: 1.0 Singapore cent) per share	1.0 Singapore cent per share	Final dividend for FY2024 paid in FY2025; comparative 1.0 cent; Group amount S$4,184 thousand (2024: S$4,088 thousand)	PDF p. 162
Special dividend paid in respect of the previous financial year of 1.0 Singapore cent (2024: 1.0 Singapore cent) per share1	1.0 Singapore cent per share	Special dividend for FY2024 paid in FY2025; comparative 1.0 cent; Group amount S$4,178 thousand (2024: S$4,091 thousand)	PDF p. 162
Scrip Dividend Scheme	For the special dividend, the Board recommended that Shareholders be given the option to receive the special dividend wholly or partly in the form of new shares in lieu of cash (the “Scrip Dividend Scheme”).	Special dividend for FY2025	PDF p. 163

Extracted from LHN Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Audit firm	PricewaterhouseCoopers LLP	Group	PDF p. 90
Engagement partner	Lee Zhen Jian	Group	PDF p. 90
Our Opinion	In our opinion, the accompanying consolidated financial statements of LHN Limited (“the Company”) and its subsidiaries (“the Group”) and the statement of financial position of the Company are properly drawn up in accordance with the provisions of the Companies Act 1967 (“the Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)s”) so as to give a true and fair view	Group and Company	PDF p. 87

Key audit matters

Item	Value	Period / scope	Source
Valuation of investment properties and leasehold properties	Valuation of investment properties and leasehold properties	Group	PDF p. 88

Extracted from LHN Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow LHN Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Amounts are SGD thousands except EPS in Singapore cents. Financial year ended30 September2025; comparative2024 has the same September yearend.

Disposal-group assets and liabilities are separately shown. Cash-flow closing cash includes disposal-group cash and excludes restricted/pledged deposits; it differs from financial-position cash/bank balances alone.

Group changes in equity are transcribed from rotated physical page94 with reversible native-coordinate bindings. Scrip dividends are separate from cash dividends; FY2025 declared dividends12.634m include3.378m paid in shares, leaving9.256m cash. Available historical comparisons remain to be extracted before publication.

Five-year figures are SGD thousands except NAV/EPS in Singapore cents; all financial years end30 September. Profit history includes continuing and discontinued operations as labelled in the report.

NAV uses yearend shares408,945,000 forFY2021–2023,418,272,000 forFY2024 and427,408,000 forFY2025. EPS uses weighted average shares404,208,000;408,945,000;408,945,000;412,105,000;421,376,000 respectively. These denominators differ and are retained.

Latest current assets and current liabilities include the disposal group classified as held for sale. Historical cash equivalents are cash-flow amounts after pledged/restricted-deposit exclusions.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.