HPL H2 profit nosedives 94.4% to S$32.1 million; S$0.04 per share final dividend proposed 

HOTEL Properties Limited (HPL), the real estate player owned by tycoon Ong Beng Seng, posted net profit of S$32.1 million for the second half ended Dec 31, plunging from S$578.2 million in the prior corresponding period

Its earnings per share stood at S$0.0547, down from S$1.1024 in H2 FY2023.

Its half-year revenue climbed 7 per cent to S$345.6 million from S$323.1 million in H2 FY2023, said the company on Thursday (Feb 27). 

Its board proposed a final dividend of S$0.04 per share, compared to a final dividend of S$0.04 per share and a special dividend of S$0.02 per share for the previous year. This is subject to shareholders’ approval at its upcoming annual general meeting. The payment date will be announced later. 

HPL shares closed flat at S$3.60 before the earnings results release.