As a result of the higher sales, profit from operations grew 18.3% to $20.8 million.
This was however partially offset by lower revenue from its leisure segment with the cessation of the group’s business at Underwater World Singapore in June 2016.
Other income however came in 41.9% lower at $1.1 million, due to a one-off investment income in the prior period and lower interest income during the period.
Distribution and marketing expenses grew 19.9% to $14.9 million mainly due to higher marketing expenses to drive sales in the healthcare segment.
In its filing to the SGX on Thursday, Haw Par says that its healthcare segment may continue to benefit from improved economic conditions in key markets, although heightened geopolitical risks remain of concern.
It adds that the valuation of the group’s investments is susceptible to market volatility.
Shares of Haw Par closed 1.25% higher at $10.49 on Thursday.
