Lower net profit is attributed to absence of net fair value gain on investment properties in the financial year ended Sep 30
[SINGAPORE] Co-living operator Coliwoo said in a Tuesday (Nov 18) profit guidance that it expects to post a better core profit before tax and fair value changes for FY2025 compared to the year-ago period – despite a decrease in net profit before tax.
This was attributed to the absence of net fair value gain on the group and its joint ventures’ investment properties in the financial year ended Sep 30, versus FY2024.
Coliwoo is the co-living business of property management services group LHN , which issued the same profit guidance on the local bourse on Tuesday.
The co-living operator announced on Monday the launch of its first property since its Nov 6 mainboard debut. The six-storey mixed-use development at 141 Middle Road will be launched in the first quarter of next year, offering ready-to-move-in living targeted at demographics including young working professionals and digital nomads.
Shares of Coliwoo closed flat on Tuesday at S$0.56 before the profit guidance. Shares of LHN ended the day down S$0.01 or 1.4 per cent to S$0.685 before its announcement.
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