MAHB’s Q2 net profit surges to RM160.08 million

by BERNAMA/ pic by TMR

Malaysia Airports Holdings Bhd’s (MAHB) net profit for the second quarter (Q2) ended June 30, 2019, surged to RM160.08 million from RM86.12 million posted in the same period last year.

Revenue improved to RM1.26 billion from RM1.15 billion previously.

However, for the first half of the financial year, its net profit dropped to RM309.66 million from RM530.72 million while revenue rose to RM2.51 billion from RM2.37 billion previously.

In a statement today, the company said the positive results were underpinned by the growth in airport operations, driven by sustained growth in passenger and aircraft movements.

“Airport operations recorded revenue growth of 9.6 per cent to RM1.19 billion while the non-airport operations increased by 2.7 per cent or RM69.1 million due to higher revenue from the project and repair maintenance business.

“Overall, Malaysia operations recorded revenue of RM904.3 million with 10.2 per cent growth while Turkey and Qatar operations reported revenue growth of 6.1 per cent and 12.5 per cent to RM318.2 million and RM38.7 million respectively,” it said.

Moving forward, MAHB said it remained positive on the achievement of the targeted growth for 2019.

“The immediate future airlines’ seat capacity outlook remains optimistic, especially for the domestic sector. The domestic traffic correction and consolidation is expected to continue while the international sector may improve,” it added.