Hong Leong Finance Q3 net profit rises 17.4%

Hong Leong Finance announced that net profit for the third quarter rose 17.4 per cent as compared to the same period last year.
Hong Leong Finance announced that net profit for the third quarter rose 17.4 per cent as compared to the same period last year.PHOTO: HONG LEONG FINANCE

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.

jkoh@sph.com.sg