MMC Corp’s net profit surges to RM173.76 mln in Q2 2021

KUALA LUMPUR, MMC Corp Bhd’s net profit for the second quarter ended June 30, 2021 (Q2 2021) surged to RM173.76 million from RM77.36 million in the same quarter last year.

Revenue increased 16 per cent to RM1.15 billion from RM990.68 million previously.

In a filing with Bursa Malaysia today, the utility and infrastructure conglomerate said the better performance was due to higher volume handled across all ports and lower finance costs incurred.

For the six months period, the company said it posted a higher profit of RM298.47 million compared with RM135.24 million registered in the same period last year, while revenue increased 10.4 per cent to RM2.29 billion.

“The better performance was mainly due to higher volume handled at Pelabuhan Tanjung Pelepas Sdn Bhd and Northport (Malaysia) Bhd.

“But these were offset by lower work progress from the Klang Valley Mass Rapid Transit Putrajaya Line and Langat Sewerage projects, lower passenger volume at Senai Airport due to the COVID-19 pandemic, and no sale of land at Senai Airport City,” it said.

Moving forward, the group said it is positive on the growth prospects of its business divisions in the financial year 2021 (FY2021) in line with the global economic recovery.

“MMC’s key business divisions will continue to play important roles in enabling and facilitating economic growth by providing essential needs and services across all economic sectors.

“Overall, the group expects to sustain its financial and operational performance for FY2021 and will stay resilient through the year,” it added.

Source: BERNAMA News Agency