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Hi-P posts 25% surge in 3Q earnings to $38.4 mil

Stanislaus Jude Chan
Stanislaus Jude Chan11/6/2017 06:07 PM GMT+08  • 2 min read
Hi-P posts 25% surge in 3Q earnings to $38.4 mil
SINGAPORE (Nov 6): Hi-P International saw its earnings jump 24.9% to $38.4 million for the 3Q ended September, from $30.7 million a year ago, on the back of an improved product mix and greater operational efficiency.
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SINGAPORE (Nov 6): Hi-P International saw its earnings jump 24.9% to $38.4 million for the 3Q ended September, from $30.7 million a year ago, on the back of an improved product mix and greater operational efficiency.

Hi-P has recommended an interim dividend of 2 cents per share for the period – a fivefold increase from the interim dividend of 0.4 cent per share declared a year ago.

Gross profit grew 24.7% to $68.1 million as gross profit margin climbed 2.4 percentage points to 16.5%. This was driven by better capacity utilisation, manufacturing yield improvement, and effective cost controls.

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