By Chester Tay
Hap Seng Consolidated Bhd's third-quarter profit rose 0.3%, as strong growth in its plantation segment offset reduced contributions from most other businesses.
Net profit rose to 193.7 million ringgit ($47.4 million), while revenue fell 9.0% to MYR1.66 billion, the diversified group said Thursday.
In the first nine months of 2020, net profit fell 17% compared with the same period a year earlier to MYR398.2 million, while revenue declined 22% to MYR4.13 billion.
The group expects its 2020 financial performance to be weaker than 2019, as most of its businesses are facing pandemic-related challenges.
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(END) Dow Jones Newswires