MAHB remains in the black after posting RM58.19m 1Q net profit

Malaysia Airports Holdings Bhd (MAHB) remained in the black after posting a net profit of RM58.19m for the first quarter ended March 31, 2023, compared to a RM104.76m loss from the previous corresponding quarter. This came after the airport operator returned to profitability in 4Q FY2022, ending 11 straight quarters of losses. In a filing with Bursa Malaysia today, MAHB said that its revenue increased to RM1.03b for the quarter under review, compared to RM570.85m last year, an increase of 81.2%. "The group registered a profit before tax of RM63.3m in the current quarter under review driven by higher revenue, other income and lower finance cost for the period. Revenue increased is in tandem with the significant increase in passenger volumes for the group, driven by further easing of travel protocols and further resumption of airline services and connectivity with traffic recovery with total passenger traffic of 26.8m passengers as compared to 14.7m passengers in the corresponding quarter in the prior year.” <br/>