block of apartments twilight sunsety
Photo – Canva.
  • BHL posts large losses, almost 600% down from previous corresponding period
  • New company secretary Adam Huxley takes over from Zena Nasser
  • Revenues only moved marginally, 0.1% down for ordinary, 1.2% up for continuing

ASX listed residential and seniors community developer Boyuan Holdings recently released its half-yearly results to the market.

The company posted reduced revenues for ordinary activities but only marginal, down 0.1% to $21.454M. Revenue from continuing activities however rose 1.2% to $14.69M.

BHL didn’t see any profits for the reporting period, down 591.7% from the previous corresponding reporting period to $8.428M.

Net tangible assets per security were also down from the previous 15.75 cents, now only 14.09 cents.

Boyuan Holdings states in its report that COVID is likely the main reason behind losses, but as with most companies, it is a view to business as usual soon.

The company also noted they will be in regular contact with capital partners should credit markets tighten further.

It has been fairly quiet from the company too, with almost no announcements since September of last year when the company released financial results, only two announcements lately, half-yearly results a week ago and today, the announcement of a changing of the guard.

BHL announced the change of company secretary today, Zena Nasser resigned and Adam Huxley takes over “effective immediately”.

You May Also Like

Westpac sees rates hitting 4.1 per cent and property prices falling further

Westpac said, “2023 will be another challenging year, particularly as the RBA continues to ratchet interest rates higher.”

Home loan hacks: four way to save money on your mortgage

With interest rates expected to keep rising, Compare Club has tips to ease the mortgage pain.

CoreLogic’s guide to navigating a looming ‘fixed-rate cliff’

Many borrowers will feel mortgage pain when they next refinance

How much does it cost to move house?

From cleaning fees to moving services, the costs of moving houses can add up fast

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.