- In a recent 3QFY23 business update, LHN (SGX:41O) reported strong momentum across its core business segments of space optimization, property development, facilities management and energy.
- Coliwoo’s co-living 1,681 keys enjoy average room rates of S$2,200-S$3,500 and are backed by solid occupancy rates of 85%-100%.
- - Read this at SGinvestors.io -
- Divestments over the year amount to S$48.5mln and will provide LHN with capital for expansion opportunities. Maintain BUY with a target price of S$0.50, pegged to 7.5x core FY23F P/E (25% discount to core historical average P/E of 10.0x).
Completed disposal of LHN Logistics.
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- LHN intends to use the cash consideration for general working capital purposes and channel resources to its other core business segments. Gain on disposal is worth 4.4 cents/share and will provide LHN firepower to accelerate expansion in the midst of a co-living boom.
Strong Operational Performance, Steady Flow of Contracts:
Space Optimisation Business.
- Read more at SGinvestors.io.
