Hong Leong Financial Group 3Q Net Profit Up 32.9% at MYR418.75 Million

By Yantoultra NguiFeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--Malaysian financial services firm, Hong Leong Financial Group (1082.KU), said Monday that its net profit for the third financial quarter ended March rose 32.9% compared with a year ago mainly due to higher contributions across all of its operating divisions.

Hong Leong Financial's net profit for the January-March period increased to 418.75 million ringgit ($98.10 million) from MYR315.07 million the same quarter a year ago, according to a local stock exchange filing.

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Revenue during the quarter climbed to MYR1.23 billion from MYR1.03 billion a year ago, according to the filing.

Going forward, Hong Leong Financial said it expects to maintain its performance in line with market conditions for the current financial year.

Shares of Hong Leong Financial were up 0.9% to MYR16.84 prior to the earnings release. The stock has climbed some 17% year-to-date.

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

(END) Dow Jones Newswires

May 29, 2017 01:57 ET (05:57 GMT)