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Haw Par posts 21.8% higher 1Q earnings of $17.3 mi on revenue growth

Michelle Zhu
Michelle Zhu5/11/2017 05:47 PM GMT+08  • 2 min read
Haw Par posts 21.8% higher 1Q earnings of $17.3 mi on revenue growth
SINGAPORE (May 11): Haw Par Corp, the manufacturer of Tiger Balm ointment with interest in the leisure and property sectors, has announced 1Q17 earnings of $17.3 million, up 21.8% from the $14.2 million the year before.
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SINGAPORE (May 11): Haw Par Corp, the manufacturer of Tiger Balm ointment with interest in the leisure and property sectors, has announced 1Q17 earnings of $17.3 million, up 21.8% from the $14.2 million the year before.

Group revenue for the quarter came in 16.3% higher at $60.8 million compared to $52.3 million in the previous year due to increased sales of Tiger Balm products, which resulted from increased distribution and better offtake certain key markets through enhanced activities.

As a result of the higher sales, profit from operations grew 18.3% to $20.8 million.

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