Haw Par Q2 profit drops 58% in absence of one-offs

Singapore

HAW PAR Corp's net profit for the second quarter fell 58.3 per cent to S$48.4 million, or 22.1 Singapore cents per share, in the absence of year-ago disposal gains and on a drop in dividend payouts from its equity investments.

The maker of Tiger Balm ointments is declaring an interim cash dividend of 10 Singapore cents per share, up from the year-ago payout of six cents per share. Haw Par shares closed at S$8.90 on Friday, lower by 0.2 …