Building materials group Hong Leong Asia on Wednesday reported a 38 per cent rise in first quarter earnings to S$30.2 million while its revenue rose 34 per cent to about S$1.1 billion.
The improved earnings and higher revenue were due to higher unit sales volume of its China operations.
The company said there was also higher consumer demand which boosted its Singapore business.
Hong Leong said the overall outlook for this year remains positive, barring unforeseen circumstances.
But it added that growth may be moderate due to the US sub-prime crisis and credit tightening in financial markets. – CNA/ac
Source : Channel NewsAsia – 14 May 2008