Merchant House International Limited (MHI) has reported a net loss attributable to owners of $4.591 million for the year ended 31 March 2025, a 37.89% decrease compared to the $7.392 million loss in the previous corresponding period. The loss from continuing operations was $2.042 million (2024: $2.264 million), while the loss from discontinued operations amounted to $2.549 million (2024: $5.128 million). The company has strategically ceased operations of its home textiles segment and is in the process of selling off remaining assets. Forsan Limited, a subsidiary, completed the sale of its 33.79% interest in Tianjin Tianxing Kesheng Leather Products Company Limited for approximately A$8.3 million, receiving US$4,915,536 after taxes and fees.
American Merchant Inc. (AMI) ceased operations on 30 September 2024, due to sustained long-term losses. AMI’s equipment was sold for US$4 million to United Textile Machinery Corp and Gibbs International Inc, with the final tranche of US$2 million received on 1 April 2025. MHI is in advanced discussions regarding the sale of AMI’s land and buildings. The company’s net tangible assets per share decreased from 29.93 cents in 2024 to 23.63 cents in 2025. Basic and diluted loss per share was (4.87) cents compared to (7.84) cents last year. MHI maintains financial solvency with sufficient cash reserves. The board intends to seek shareholder approval for distributing residual funds, voluntarily delisting from the ASX, and winding up the Group following the successful divestment of remaining assets.
