Hong Leong Financial Group 1Q Net Profit Rises 17.9%

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia--Financial-services firm Hong Leong Financial Group's (1082.KU) net profit for the fiscal first quarter rose 17.9% from a year earlier, mainly due to higher contribution from its commercial banking and insurance divisions.

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Net profit for the July-September period rose to 455.25 million ringgit ($111.3 million) from MYR386.19 million a year earlier, Hong Leong said in a filing to the local stock exchange on Thursday.

Revenue increased 8.2% to MYR1.28 billion during the quarter from MYR1.18 billion the same period a year earlier, the filing showed.

Hong Leong Financial Group said it expects to maintain its performance in line with market conditions for the current financial year ending June 2018.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

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November 30, 2017 01:44 ET (06:44 GMT)