Hong Leong Finance Q2 profit dips

Singapore

HONG Leong Finance posted a 0.7 per cent year-on-year decrease in net profit to S$13.96 million for the second quarter ended June 30. For the half year, earnings rose 3.6 per cent to S$29.5 million.

Annualised earnings per share were 12.58 Singapore cents, against 12.69 cents a year earlier.

Interest income and hiring charges climbed 16.9 per cent for the second quarter to S$73.2 million. But interest expense surged 26.7 per cent to S$32 million, on the back of higher interest payable on deposits.…