Haw Par reaps investment gains to lift Q3 profit 19.2%

CONGLOMERATE Haw Par Corp posted a 19.2 per cent net profit increase in its fiscal third quarter as solid investment returns more than offset weakness in its property and leisure businesses.

The company earned S$26.64 million, or 12.2 Singapore cents per share, in the three months ended September, as profit from investments in companies such as United Overseas Bank rose 28.3 per cent to US$17.6 million.

For the first nine months of the year, net profit was up 19.6 per cent to S$100.5 million, or 45.9 Singapore cents per share.

Haw Par shares closed flat at S$8.50 on Thursday before the results were announced.