SINGAPORE - Hong Leong Finance announced that net profit for the third quarter ended Sept 30 rose 17.4 per cent compared to the same period last year to S$16.8 million.
Interest on loans for the three months was S$59.5 million, up 18.2 per cent from last year.
Net interest income and hiring charges rose 8.8 per cent to S$40.9 million. This was due to a higher loan base and loan yield.
Net loan assets, including hire purchase receivables, stood at S$10 billion as at Sept 30. This was a 4 per cent increase over the previous year's base of S$9.6 billion as at Dec 31.
For the nine months to Sept 30, net profit rose 8.2 per cent to S$46.353 million. Interest on loans for the nine months rose 18.3 per cent to S$171.5 million.
Annualised earnings per share for the three months was 15.17 cents, up from 12.93 cents last year. Net asset value per share as at Sept 30 was S$3.74, the same as what it was at Dec 31 last year.
No dividend was declared.