Hong Leong Asia's Attributable Profit Rises 11% in H2 2024; Shares Plunge 8%

MT Newswires

02-27

Hong Leong Asia's (SGX:H22) attributable profit to owners of the company increased 11% during the second half of 2024 to SG$38.0 million from SG$34.1 million a year earlier, according to a Wednesday filing with the Singapore Exchange.

Earnings per share rose to SG$0.0511 compared with SG$0.0456 in the comparable period.

Revenue declined marginally by 0.4% year over year to SG$2.0 billion from SG$2.01 billion, with the company reporting strong performance in the marine and power generation business.

The board proposed a final dividend of SG$0.03 per share, taking the total dividend to SG$0.04 per share for the year ended Dec. 31, 2024.

Shares of the company were down over 8% in recent trading.

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