KUALA LUMPUR: Hong Leong Financial Group Bhd (HLFG)’s net profit increased 32.9 per cent in the third quarter (Q3) to RM418.75 million from RM315.07 million recorded in the same quarter a year ago.
In a filing to Bursa Malaysia, HLFG said the increase in net profit was due to higher contributions from across all operating divisions.
Its revenue in the same quarter increased by 19.5 per cent to RM1.23 billion from RM1.03 billion.
For Q1 to Q3, HLFG’s net profit increased by 29.3 per cent to RM1.25 billion, from RM965.39 million.
Its revenue in the same period increased by 12.7 per cent to RM3.76 billion from RM3.34 billion.
HLFG president and chief executive officer Tan Kong Khoon said the financial results achieved for the nine month period reflects the multiple business initiatives undertaken in the Group’s operating businesses amidst a challenging economic environment.
“Business growth remains intact and more importantly, our core businesses continue to show strong credit and liquidity risk metrics which are important in these times.
“We will continue to execute our business strategies in tandem with our digital plans to build sustainable long-term value for our shareholders,” he said.