Cost of sales rose 36.4% to $29.8 million, bringing 1Q19 gross profit to $43.6 million, 14.2% higher than $38.2 million a year ago.
Distributing and marketing expenses were 24.3% higher at $16.2 million, while general and administrative expenses increased 1.2% to $4.0 million.
As at end March, the group’s cash and cash equivalents stood at $529.4 million.
In its outlook statement, Haw Par notes that global uncertainties could affect its operating businesses and valuation of its strategic investments. It also notes that margins for its healthcare business may decline further if the price of raw materials continue to increase.
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Shares in Haw Par closed at $13.75 on Wednesday.
