Healthcare division lifts Haw Par Corp's turnover but bottomline falls 10%

Haw Par Corp has posted a 10 per cent drop in full-year net profit to $107.9 million.

Revenue for the 12 months ended Dec 31 edged up 1.3 per cent to $141.2 million, fuelled by the higher contribution from its healthcare division and higher dividend income.

Profit from its health-care division jumped 50.8 per cent, while that of its property business grew by 3.6 per cent. Its leisure business segment, however, saw profit fall by 68.2 per cent to $3.8 million.

The company's investment income rose 14 per cent to $56.7 million, largely due to a special dividend it received on UOB shares.

Earnings per share slipped to 49.4 cents from 55.1 cents previously, while net asset value per share climbed to $11.18 compared to $10.34 as of Dec 31.

It proposed a final cash dividend of 14 cents a share, bringing the total payout for the year to 20 cents apiece.

Haw Par shares closed four cents down at $8.52 on Thursday, before it released its full-year results.

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