Company Briefs : Haw Par Corp

Haw Par Corp

Tiger Balm maker Haw Par Corp posted a net profit of $57.2 million in the third quarter, up 43.4 per cent from the same period a year ago, on higher operating profits and dividend income from holdings in United Overseas Bank.

Revenue in the three months ended Sept 30 rose 14.2 per cent to $61 million, on the back of higher sales of healthcare products in Asia.

Gross profit rose 10.7 per cent to $37 million as raw material prices rose in line with higher commodity prices and lower supply. Other income rose 47.9 per cent to $39.7 million.

Earnings per share were 25.9 cents, up from a restated 18.2 cents in the third quarter last year. Net asset value per share was $14.29 as of Sept 30, up from a restated $13.98 as of Dec 31 last year.

City Developments

A strong showing from property development, especially its New Futura condo in Leonie Hill Road, helped City Developments (CDL) boost its third-quarter net profit by 10.4 per cent to $161.8 million from the previous year.

For the three months ended Sept 30, revenue increased 17.7 per cent to $1.02 billion from the year-ago period. CDL said that besides New Futura, profit was booked from Gramercy Park and The Tapestry, among others.

Earnings per share rose to 17.8 cents from 16.1 cents in the year-ago period. Net asset value per share rose to $11.20 as of Sept 30, from $10.52 as of Dec 31 last year. Profit before tax (including its share of after-tax results of associates and joint ventures) from property development surged to $154.81 million from $84.37 million in the year-ago period.

Frasers Property

Fair value gains of $637 million on Frasers Property's investment properties, as well as the timing of sales settlements of development projects in Singapore and Australia, and maiden contributions from business parks in the United Kingdom lifted results for the group for its 2018 financial year.

Net profit rose 10.1 per cent to $759 million from the previous year, while revenue grew 7.1 per cent to $4.31 billion for the 12 months ended Sept 30. Earnings per share after fair value change and exceptional items rose to 23.35 cents, from 21.48 cents for the year-ago period. Net asset value per share edged up to $2.53 as of Sept 30, from $2.46 a year ago. Dividend per share was flat at 6.2 cents. Including interim dividend paid out earlier this year, its proposed total dividend for fiscal 2018 remains at 8.6 cents per share.

A version of this article appeared in the print edition of The Straits Times on November 10, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe