Hap Seng's 1Q net profit slips to RM50.77mil

KUALA LUMPUR: Hap Seng Consolidated Bhd's net profit for the first quarter ended March 31, 2023 (1Q FY2023) fell to RM50.77 million from RM156.30 million recorded for the same period last year.

In a Bursa Malaysia filing today, the diversified group in plantation, property, credit financing, automotive, trading and building materials said revenue for the quarter reviewed also declined to RM1.59 billion from RM1.65 billion in the corresponding quarter previously due to decreased revenue from plantation, property and trading divisions.