Hi-P posts strong profit growth in Q4; proposes final dividend of 4 cents a share

Singapore

CONSUMER electronics manufacturer Hi-P International more than doubled its net profit from S$28.53 million to S$59.62 million for the fourth quarter ended Dec 31, 2017, prompting it to declare a final dividend of four Singapore cents per share.

This came as revenue rose nearly 38 per cent year-on-year to S$491.82 million due to higher sales volumes, "resulting from the mass production of certain projects" during the quarter, it said. For the quarter under review, earnings per share rose to 7.39 Singapore cents from 3.5 cents.