Malaysia: MAHB 2Q net profit rises to RM102.53mil

Malaysia Airports Holdings Bhd’s net profit for Q2 ended June 30, 2023 rose to RM102.53m versus a net loss of RM58.15m in the same quarter last year. Revenue grew 78.6% to RM1.23b from RM689.76m previously, in tandem with increased passenger volumes, resumption of airline services and connectivity, reopening of China borders and increased Haj pilgrim’s quota. "Revenue from airport operations increased by 84.3% from RM626.8m to RM1,155.4m. Aeronautical segment revenue increased from RM368.2m to RM696.7m as compared to the corresponding quarter in the prior year,” it said in a filing with Bursa Malaysia. MAHB said revenue from non-airport operations increased by 21.6% or RM13.6m from RM63.0m to RM76.6m due to higher revenue from the project and repair maintenance and hotel businesses. Overall, Malaysia operations had recorded a significant increase in revenue by 118.3% from RM357.5m to RM780.6m, whereas Türkiye and Qatar operations recorded an increase in revenue by 37.9% from RM309.2m to RM426.4m and 8.2% from RM23.1m to RM25.0m, respectively,” it said. Meanwhile, for the first half of 2023 (1H 2023), MAHB recorded RM160.72m net profit compared to a net loss of RM162.91m in the previous period, while revenue jumped to RM2.27b from RM1.26b previously.<br/>