KULA LUMPUR: Mega First Corporation Bhd
’s net profit for the second quarter ended June 30, 2024, increased to RM105.355 million compared to RM88.609 million recorded in the same quarter last year.
Revenue of the investment holding and management services company rose to RM331.950 million from RM325.653 million previously, the group said in a filing with Bursa Malaysia today.
It said the strong net profit underscored the strength of the group’s core businesses and the positive impact of acquiring an additional 15 per cent equity stake in Don Sahong Power Company Ltd at the end of 2023.
For the first half ended June 30, 2024, Mega First’s net profit went up to RM200.819 million from RM159.157 million recorded in the same period last year while revenue slipped to RM645.429 million from RM673.006 million previously.
The strong performance in net profit was underpinned by a 10.3 per cent increase in the combined pre-tax profit of the core divisions and reduced losses in the investment holding and others segment, it said. - Bernama
