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Haw Par posts nearly 60% fall in 2Q earnings to $48.4 mil

PC Lee
PC Lee8/12/2016 05:38 PM GMT+08  • 1 min read
Haw Par posts nearly 60% fall in 2Q earnings to $48.4 mil
SINGAPORE (Aug 12): Haw Par Corp, the manufacturer of Tiger Balm ointment with interest in the leisure and property sectors, saw a 58.3% fall in 2Q16 earnings to $48.4 million from $115.9 million a year ago on lower profit contributions from associates.
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SINGAPORE (Aug 12): Haw Par Corp, the manufacturer of Tiger Balm ointment with interest in the leisure and property sectors, saw a 58.3% fall in 2Q16 earnings to $48.4 million from $115.9 million a year ago on lower profit contributions from associates.

Revenue for the three months to June was up 2.8% at $52.6 million due to improvement in turnover of its property and leisure businesses.

Revenue from healthcare business was maintained at around $44.2 million but operating profit increased 9.7% to $14.7 million due to better margins.

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