Hafary posts strong interim profit of $24 million, thanks to one-off gain
Catalist-listed Hafary Holdings today announced that its half year net profit soared to $23.9 million from $2.5 million.
This was due mainly to recognition of a one-time gain on the disposal of development property at 79 Aljunied Road amounting to $23.8 million.
The supplier of premium tiles, wood flooring and sanitary ware reported a 34 per cent jump in revenue to $42.5 million for the six months to Dec 31.
This was driven by an across-the-board increase in sales contributed by its two business segments.