Haw Par Corporation has reported a profit net of tax of $122.0 million for the 1HFY2024 ended June 30, 17.1% higher y-o-y.
Revenue rose by 6.3% y-o-y to $118.1 million as demand for healthcare products remained robust. However, cost of sales rose by 11.4% y-o-y to $53.7 million due mainly to higher overheads and labour cost.
Gross profit rose by 2.4% y-o-y to $64.5 million while gross profit margin dipped from 56.7% to 54.6%.
Other income was up by 18.4% y-o-y to $97.2 million mainly due to higher dividend rate from strategic and long-term investments as well as higher interest income from higher interest rates.
Earnings per share (EPS) for the period stood at 55.1 cents.
A first and interim dividend of 20 cents has been declared for the period, unchanged y-o-y. the dividend will be paid on Sept 10.
See also: Envictus reports profit turnaround with earnings of RM50.6 mil
Shares in Haw Par Corporation H02 closed 6 cents higher or 0.59% up at $10.23 on Aug 14.
