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Energy industries

Genting Berhad Posts 8% Increase in Group Pre-Tax Profit

Strategic Insights

— 1 min read

Genting Berhad, a prominent Malaysian conglomerate, has announced a significant increase in its group pre-tax profit for the first six months of this year. With a profit of RM1,033.23 million (US$275.3 million), the company has seen an 8% rise from the same period last year. This improvement is attributed to the better performances of its property, oil and gas, manufacturing, and leisure and hospitality divisions. Notably, the company's net profit has climbed 10.5% to RM494.412 million, driven by contributions from these divisions.

Key Takeaways:

  • Genting Berhad's group pre-tax profit for the first six months of this year stands at RM1,033.23 million (US$275.3 million), an 8% increase from the same period last year.
  • The company's net profit rose 10.5% to RM494.412 million, driven by contributions from its property, oil and gas, manufacturing, and leisure and hospitality divisions.
  • Revenue for the six months to 30 June 2005 increased 10.2% to RM2,546.456 million, compared to RM2,310.961 million for the same period last year.
  • The oil and gas division's revenue was boosted by higher average oil prices and increased production.
  • The property division contributed to the increase in revenue through higher progress billings from properties sold.
  • The manufacturing division recorded higher revenue due to higher average selling prices and volume sold from the packaging division.
  • The plantation division's profit was lower due to lower crude palm oil (CPO) selling prices.
  • The power division's profit was lower due to higher costs incurred on maintenance works, although major inspections and maintenance work were carried out on all turbines.
  • The leisure and hospitality division's profit increased marginaly despite an 11% increase in revenue.

Statistics:

  • Group pre-tax profit: RM1,033.23 million (US$275.3 million)
  • Net profit: RM494.412 million
  • Revenue for six months to 30 June 2005: RM2,546.456 million
  • Increase in revenue: 10.2%
  • Average oil prices: boosted revenue of oil and gas division
  • Properties sold: higher progress billings from property division
  • Crude palm oil (CPO) selling prices: lower profit from plantation division
  • Turbine maintenance costs: higher costs incurred on power division

Sources:

  • Asia Pulse, 29 August 2005
  • KLSE:3182 (Genting Berhad's listing on Bursa Malaysia)

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