---
title: "Haw Par, the manufacturer of Tiger Balm, expects a 14.2% increase in net profit in the second half of 2025 | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277289098.md"
description: "Haw Par Corporation released its performance for the second half of the fiscal year 2025, with net profit increasing by 14.2% to 121.3 million yuan, and annual net profit rising by 16.3% to 265.5 million yuan year-on-year. The increase in net profit is mainly attributed to a significant rise in dividend income, which soared by 27% year-on-year to 189 million yuan. However, revenue from core businesses such as healthcare, leisure, and real estate declined by 6.1% year-on-year, with healthcare revenue dropping by 6.9%. Despite the decline in core business revenue, other income grew by a total of 17.3%"
datetime: "2026-02-28T09:12:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277289098.md)
  - [en](https://longbridge.com/en/news/277289098.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277289098.md)
---

# Haw Par, the manufacturer of Tiger Balm, expects a 14.2% increase in net profit in the second half of 2025 | Lianhe Zaobao

The owner and manufacturer of the Tiger Balm brand, Haw Par Corporation, reported a 14.2% increase in net profit to SGD 12.13 million in the second half of the 2025 fiscal year, with an annual net profit growth of 16.3% to SGD 26.55 million.

The group released its performance results for the second half and the full year of the 2025 fiscal year, ending last year, on Friday (February 27). The group stated that the increase in net profit was due to a significant rise in dividend income. The group's dividend income for the 2025 fiscal year surged 27% year-on-year to SGD 18.9 million.

However, revenue from other core businesses, including healthcare, leisure, and real estate, declined by 6.1% year-on-year to SGD 23 million. Among them, healthcare revenue fell by 6.9% to SGD 21.04 million, primarily due to soft market sentiment and increasingly cautious consumer spending, leading to a decline in sales in the Asia region.

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Despite the decline in core business revenue, other income (including dividend income, interest income, and miscellaneous income) grew by 17.3% to SGD 21.13 million. Additionally, distribution and marketing expenses decreased by 16% year-on-year to SGD 4.43 million.

Haw Par Corporation proposed a final dividend of SGD 0.20 per share. Combined with the interim dividend of SGD 0.20 per share already distributed, the total dividend for the year amounts to SGD 0.40 per share.

Haw Par Corporation's stock price rose by 1.9% on Friday, closing at SGD 16.70

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