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Hafary 2HFY2023 earnings up 22.7% y-o-y to $23.3 mil

Bryan Wu
Bryan Wu • 1 min read
Hafary 2HFY2023 earnings up 22.7% y-o-y to $23.3 mil
This brings full-year FY2023 earnings to $39.0 million, up 33.0% y-o-y. Photo: Hafary
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Hafary Holdings 5VS -

has reported earnings of $23.3 million for 2HFY2023 ended Dec 31, 2023, up 22.7% over 2HFY2022.

 

Revenue for the same period was up 24.6% y-o-y to $121.6 million.

This brings full-year FY2023 earnings to $39.0 million, up 33.0% y-o-y, on the back of a 34.1% increase in revenue to $226.4 million.

Net cash flows from operating activities for FY2023 of $49.5 million was mainly attributable by operating cash flows before working capital changes of $59.7 million, net cash flows used in working capital of $3.2 million and income tax paid of $7.0 million.

As at Dec 31, 2023, cash and cash equivalents stood at $17.9 million. 

See also: Internalisation costs rise to $8.9 million for Sabana REIT, DPU falls 16.8% y-o-y

For 2HFY2023, Hafary 5VS -

plans to pay a dividend of 1.5 cents per share, including half of that as a special dividend. This brings payout for FY2023 to 2.75 cents.

In the previous FY2022, the company paid a total of 2.25 cents.

Hafary shares closed 0.5 cents lower or 1.61% down at 30.5 cents on Feb 7.

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