Hong Leong Finance's Q1 profit rises

HONG Leong Finance's profit for the first quarter ended March 31, 2017, rose 13.2 per cent year on year to S$16.46 million.

This was partly due to a decline in staff costs and a reduction in other operating expenses.

Total interest income/hiring charges clocked S$72.1 million, down 11.5 per cent year on year, in line with lower interest on loans as well as other interest income.

Annualised earnings per share came to 14.83 Singapore cents, up from 13.11 cents a year ago.