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”.

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