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Haw Par nearly doubles 2HFY2021 earnings to $57.1 mil

The company will pay a total FY2021 dividend of 30 cents per share

Haw Par Corp has nearly doubled earnings for 2HFY201 to $57.1 million over 2HFY2020. Revenue in the same period was up 149.8% to $75.3 million.

The company generated better earnings from sale of its own products, while it also enjoyed higher dividend income from its investments – which consists mainly from its stakes in United Overseas Bank and UOL Group.

For the full year FY2021, earnings dropped 8.1% to $110.1 million, on the back of a 27.2% increase in revenue to $147.2 million, driven by higher sales of its products amid the pandemic.

The company plans to pay a final dividend of 15 cents, bringing full year 2021 payout to 30 cents – same as FY2020.

Haw Par expects to benefit from the recovering economies and more border reopening.

“However, any worsening of the pandemic situation and/or a heightening of political tensions may disrupt the recovery trajectory.

“The valuation of the Group’s strategic investments may also be affected by a disrupted economic recovery,” the company adds.

As at Dec 31 2021, Haw Par’s net asset value per share was $14.51, up from $13.04 as at Dec 31 2020.

Haw Par shares closed Feb 25 at $11.62, up 1.04% for the day, up 2.29% year to date.

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