LSH Capital posts 1H earnings jump ahead of LEAP listing

KUALA LUMPUR: LEAP Market-bound Lim Seong Hai Capital Bhd (LSH Capital) recorded a net profit of RM5.56mil in the first half of its 2021 financial year, which was a near two-fold increase from RM1.48mil in the immediate preceding period.

Revenue for the six months came to RM41.61mil, or 85% higher compared to RM22.49mil previously.

LSH Capital, via its subsidiaries Lim Seong Hai Lighting Sdn Bhd and Knight Auto Sdn Bhd, is principally involved in the provision of building materials, lighting products, and related M&E products and services, hardware and tools, and rental of machinery.

The positive performance of the company will give a boost in confidence to investors en route to its listing on the Leap Market of Bursa Malaysia on July 30, said LSH Capital non-executive chairman Tan Sri Lim Keng Cheng.

"Despite the challenging economic climate, the Group is cautiously optimistic that its financial results for FY21 will remain favourable based on the positive first half financial results.

"The revenue that has yet to be recognized from our secured contracts amounting to approximately RM65.18mil, as at 31 March 2021, is also expected to contribute towards LSH Capital’s revenue until 2024,” he added.
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