LHN Limited provided earnings guidance for the financial year ending September 30, 2020. For the period, the company expects to record a higher net profit before tax for FY2020 of not less than approximately SGD 26 million as compared to the financial year ended 30 September 2019 of approximately SGD 8.9 million. The higher net profit before tax for FY2020 arises mainly from gains from subleases upon the adoption of IFRS 16 from 1 October 2019 which were derived based on differences between the right-of-use asset derecognized and the net investment in sublease, which is non-cash in nature; increase in profit from the Group's residential projects such as the co-living business; new contracts secured to manage dormitories during the second half of FY2020; and reduction in rental costs due to rental rebates received for the carpark division.