MAHB 2Q net profit jumps 86% on higher revenue, declares 5 sen dividend

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KUALA LUMPUR (Aug 30): Malaysia Airports Holdings Bhd's (MAHB) net profit for the second quarter ended June 30, 2019 jumped 86% year-on-year to RM160.08 million from RM86.12 million, on the back of higher revenue.

In a filing today, MAHB said revenue for the quarter rose to RM1.26 billion from RM1.15 billion previously.

Earnings per share was higher at 8.78 sen versus 4.33 sen a year earlier.

MAHB declared an interim dividend of 5 sen, payable on Oct 1.

For the six months ended June 30, MAHB's net profit fell to RM309.66 million from RM530.72 million. Revenue for the period, however, rose to RM2.51 billion versus RM2.37 billion previously.

On its prospects, MAHB said while Malaysia's June traffic performance was encouraging, challenges and uncertainties continue to remain with respect to airlines performance, competition in the domestic environment as well as the local and global macro-economic outlook.

"MAHB remains 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 said.

At the midday break, MAHB shares added 0.12% or 1 sen to RM8.56, valuing the airport operator at RM14.2 billion.