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Hwa Hong’s 3Q earnings triple on weaker pound

Jude Chan
Jude Chan10/21/2016 06:45 PM GMT+08  • 1 min read
Hwa Hong’s 3Q earnings triple on weaker pound
SINGAPORE (Oct 21): Investment holding company Hwa Hong Corporation has posted earnings of $1.6 million for 3Q ended September, triple that of earnings of $0.5 million in the same period last year.
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SINGAPORE (Oct 21): Investment holding company Hwa Hong Corporation has posted earnings of $1.6 million for 3Q ended September, triple that of earnings of $0.5 million in the same period last year.

This was mainly due to favourable foreign exchange impact arising from the translation of Sterling pound against the Singapore dollar. Hwa Hong saw foreign exchange gains of $1.9 million for 3Q, compared to a loss of $1.1 million in the same quarter last year.

Revenue increased marginally by 1.6% to $3.1 million for 3Q16, from $3.0 million last year.

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