HLFG's 3Q profit declines 27% y-o-y to RM339m

KUALA LUMPUR (May 29): Hong Leong Financial Group Bhd (HLFG) recorded a 26.8% year-on-year decline in its third quarter net profit, on the back of lower earnings from all its operating divisions.

The group's net profit for the three months ended March 31, 2020 (3QFY20) fell to RM339.2 million from RM463.42 million, while quarterly revenue retreated 12.6% to RM1.14 billion from RM1.31 billion.

No dividend was declared this quarter. Its cumulative dividend payout for the nine months ended March 31, 2020 (9MFY20) stands at 13 sen per share, as opposed to 42 sen declared in the corresponding period last year.

For 9MFY20, HLFG's net profit dropped 8.3% to RM1.33 billion from RM1.45 billion, while revenue retreated 2.8% to RM3.83 billion from RM3.94 billion.

(more to come)