Continue reading this on our app for a better experience

Open in App
Home Capital Results

Haw Par 1Q earnings up 14% to $22.1 mil on higher revenue

Samantha Chiew
Samantha Chiew • 1 min read
Haw Par 1Q earnings up 14% to $22.1 mil on higher revenue
SINGAPORE (May 8): Haw Par Corporation, the homegrown multinational group, reported a 14.1% rise in 1Q19 earnings to $22.1 million, compared to $19.3 million in 1Q18.
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 8): Haw Par Corporation, the homegrown multinational group, reported a 14.1% rise in 1Q19 earnings to $22.1 million, compared to $19.3 million in 1Q18.

This came on the back of a 22.3% increase in revenue to $73.4 million from $60.0 million last year, due mainly to higher demand for Healthcare products.

Cost of sales rose 36.4% to $29.8 million, bringing 1Q19 gross profit to $43.6 million, 14.2% higher than $38.2 million a year ago.

Distributing and marketing expenses were 24.3% higher at $16.2 million, while general and administrative expenses increased 1.2% to $4.0 million.

As at end March, the group’s cash and cash equivalents stood at $529.4 million.

In its outlook statement, Haw Par notes that global uncertainties could affect its operating businesses and valuation of its strategic investments. It also notes that margins for its healthcare business may decline further if the price of raw materials continue to increase.

Shares in Haw Par closed at $13.75 on Wednesday.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.