Haw Par posts 21.3% rise in 3Q earnings to $42.4 mil

SINGAPORE (Nov 11): Haw Par Corporation has posted 3Q16 earnings of $42.4 million, up 21.3% from $34.9 million a year ago due to higher gross margins and absence of one-off loss on disposal of available-for-sale financial assets in prior year.

Revenue grew 3.3% to $49.7 million from $48.1 million in 3Q15, due to higher sales in the group’s healthcare segment as well as improvement in occupancy for the property division.

Revenue from healthcare was up 7.1% to $44.7 million, while property grew 32% to $4.3 million from improved occupancy.

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