MAHB shares rise on positive earnings result

📆 01/03/2023 01:54:00
📰 staronline

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At 9.20am, the airport operator was up 11 sen or 1.62% at RM6.90 a share on the back of 300,400 shares exchanging hands.

saw investor buying interest after it reported a return to profitability after 11 consecutive quarters of losses.

It attributed its improved bottomline to higher revenue, a reduction in utilisation fees and a better share of results from joint ventures and associates. For 2022, the company's net profit was RM187.2mil as compared with a net lo;ss of RM755.43mil a year earlier."After a tumultuous period of uncertainty and challenges, passenger traffic is steadily improving and recovering closer to pre-pandemic levels,” said MAHB managing director Datuk Iskandar Mizal Mahmood in a statement.

According to the research firm, MAHB registered a core loss in 4Q22 after stripping out exceptional items, which was a reverse from a 3Q22 core profit of RM19.5mil.

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