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Profit of Tiger Balm maker Haw Par soars 46% YoY to $216.6m in FY23
With higher profit, the company declared a higher basic earnings per share of $0.978.
Haw Par, the maker of Tiger Balm, saw its profit soar by 46% YoY to $216.6m in FY23.
In a bourse filing, the company attributed its higher profit to improved healthcare revenue, which saw a 30.1% YoY jump to $213.5m.
The company’s healthcare revenue was “fueled by sales recovery in Asian markets and increased operating profits.
The higher healthcare revenue helped boost the group’s revenue by 27.4% YoY to $232.1m.
With higher profit, the company declared basic earnings per share of $0.978, higher than the $0.670 recorded in FY22.
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