Hong Leong Finance's profit in Q2 down 20.9%

HONG Leong Finance's profit for the second quarter ended December dropped 20.9 per cent to S$11.04 million from S$13.96 million a year ago. For the half year, profit dropped 13.3 per cent, from S$29.53 million to S$25.58 million.

Annualised earnings per share were 9.95 Singapore cents, against 12.58 Singapore cents a year ago.

An interim dividend of three Singapore cents per share (tax-exempt one-tier) has been declared in respect of the year ending Dec 31. The interim dividend will be paid on Sept 16.

The group said that its net loan assets including hire purchase receivables net of allowances stood at S$10,037 million at the end of the period under review. Deposits and balances of customers closed at S$10,984 million as at June 30. This was a decrease of 4 per cent or S$460 million over the base as at June 30.