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Haw Par's full-year earnings down 31.8% at S$125m

Thursday, February 23, 2017 - 18:28

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Haw Par Corporation's net profit for FY2016 fell 31.8 per cent to S$125 million, due to one-off equity accounting gains from an associate in the previous year.

Haw Par Corporation's net profit for FY2016 fell 31.8 per cent to S$125 million, due to one-off equity accounting gains from an associate in the previous year.

Earnings per share for the Tiger Balm ointment maker was down year on year to 57 Singapore cents in 2016 from 83.7 Singapore cents in 2015.

For the full year, its revenue went up 12.8 per cent to S$201.6 million as a result of better performance in its Healthcare and Property segments.

Net asset per share was reduced to S$11.29 from S$11.57 mainly due to lower valuations of financial assets at fair value.

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The company declared a proposed a second and final dividend for FY2016 of 10 cents per share, equal to the amount of its first dividend paid out on Sept 2, 2016. The second proposed dividend will be paid on May 26, 2017, subject to shareholders' approval.

The company warned that the prevailing weak economic outlook and increased uncertainties in geopolitical situation will continue to influence the fair values of the group's investments and could also affect the group's operations.

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