Lion Asiapac (BAZ) H1 2024 earnings summary

Executive summary

• H1 revenue from continuing operations rose 66% YoY to S$13.5m; total profit was S$647k versus a S$2.286m loss, supported by S$689k profit from discontinued operations.

• The Compact Energy disposal was classified as discontinued operations and held for sale; the Semangat acquisition contributed four months of results in Q2.

Financial highlights

• Q2 continuing revenue increased 9% YoY to S$8.927m; continuing net loss narrowed to S$146k from S$754k.

• H1 continuing operations recorded S$129k pre-tax profit but a S$42k after-tax loss, versus a S$1.316m pre-tax loss and S$1.374m net loss a year earlier.

• H1 discontinued operations generated S$689k post-tax profit versus a S$912k loss; total H1 profit was S$647k versus a S$2.286m loss.

Outlook and guidance

• With the economic outlook uncertain, management plans to manage challenges prudently and pursue new opportunities.