Haw Par Q1 profit rises 26.8% on broad improvement

Singapore

HAW PAR Corp's first-quarter profit grew 26.8 per cent to S$17.1 million, or 7.8 Singapore cents per share, on the back of stronger healthcare sales and gains from the disposal of financial assets, the conglomerate announced on Wednesday after the market closed.

The maker of Tiger Balm ointments said revenue increased 14.9 per cent to S$52.3 million in the three months ended March 31 as healthcare sales rose 17.8 per cent to S$45.5 million amid better business in key markets.