Haw Par Corporation has reported earnings of $77.2 million for the 1HFY2022 ended June, 45.8% higher than earnings of $53.0 million in the same period the year before.
Revenue for the half-year period improved by 45.1% y-o-y to $95.5 million, due mainly to the higher revenue from its sale of goods due to an improvement in consumer demand for healthcare products.
Gross profit increased by 50.7% y-o-y to $51.9 million.
Other income rose by 44.1% y-o-y to $59.6 million thanks to higher dividend income from its investments, which consists mainly from Haw Par’s stakes in United Overseas Bank (UOB and UOL Group, as well as higher interest income derived from the rising interest rate environment.
Earnings per share (EPS) stood at 34.9 cents.
The group has declared a first and interim dividend of 15 cents per share, unchanged from the same period last year.
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The dividend will be paid on Sept 2.
As at June 30, Haw Par’s net asset value (NAV) per share stood at $14.55.
Cash and cash equivalents stood at $599.9 million for the period.
Shares in Haw Par closed 1 cent higher or 0.09% up at $11.22 on Aug 10.
