Chasen Holdings (5NV) H2 2024 earnings summary

Executive summary

• FY2024 continuing-operations revenue fell 17% YoY to S$95.7m; gross profit fell 28% to S$12.8m, amid weak demand and challenging business conditions.

• Reported FY2024 net loss was S$6.6m, including a non-recurring demolition charge; profit from discontinued operations was S$6.0m.

Financial highlights

• 2HFY2024 revenue was S$45.7m, down 23% YoY; gross profit was S$5.3m, down 47%.

• FY2024 loss after tax from continuing operations was S$12.6m; total net loss after discontinued-operations profit was S$6.6m.

• FY2024 discontinued operations generated S$6.0m profit after tax, up 29% YoY; 2HFY2024 generated S$2.3m, up 28%.

Outlook and guidance

• Priorities are completing the CZ Group disposal, strengthening the statement of financial position, and maintaining resilience in the continuing businesses.

• Management aims to capture new business opportunities and improve market share while adapting to shifting client investment strategies across its operating markets.