Haw Par Corporation on Friday reported a 16.3 per cent jump in net profit to S$265.46 million for the year ended Dec 31 2025, buoyed by a sharp rise in dividend income from its long-term equity portfolio, which offset softer sales in its core Tiger Balm healthcare business.
Earnings per share rose to 119.9 Singapore cents from 103.1 cents a year earlier. The board has proposed a second and final tax-exempt dividend of 20 Singapore cents a share, payable on 21 May 2026 to shareholders on record as at 6 May 2026. Together with the interim payout of 20 cents already distributed, total ordinary dividends for FY2025 will amount to 40 cents a share, sharply lower than the S$1.40 per share (including a one-off S$1 special dividend) declared for FY2024.
Group revenue slipped 6.1 per cent year-on-year (YoY) to S$229.97 million, reflecting a 6.9 per cent decline in the healthcare segment to S$210.40 million as cautious consumer spending weighed on demand across key Asian markets. The leisure and property division, reported under “Others”, edged up 4.0 per cent to S$19.57 million on improved footfall at Underwater World Pattaya and higher occupancy at Singapore investment properties.
Despite the top-line contraction, group operating margins firmed, helped by a 17.3 per cent rise in other income to S$211.27 million, driven mainly by a surge in dividends from strategic stakes in United Overseas Bank and UOL Group. Segment profit before tax from Investments climbed 16.3 per cent to S$205.33 million. Healthcare contributed pre-tax earnings of S$67.08 million, up 7.2 per cent on tighter cost control that cut distribution and marketing expenses by 16.0 per cent to S$44.30 million. Pre-tax profit from the property and leisure businesses inched up 3.7 per cent to S$10.62 million.
Group borrowings rose 22.0 per cent to S$44.27 million, which management said partially hedged currency exposure linked to additional long-term investments. Cash and bank balances expanded to S$791.43 million from S$745.78 million, aided by stronger operating cash flows and lower capital expenditure.
Looking ahead, Haw Par cautioned that uneven global economic growth and heightened geopolitical risks could weigh on consumer sentiment and demand for its healthcare products over the next 12 months. The group indicated it will continue to prioritise cost discipline and prudent capital allocation while monitoring market conditions for further investment opportunities.