AFFIN Holdings Berhad (AFFIN) recorded an improved profit before tax after zakat (PBT) of RM359.8 million for the half year ended 30 June 2017.
This marked an increase of RM24.5 million or 7.3% as compared to RM335.3 million for the corresponding half-year ended 30 June 2016. Profit after tax (PAT) for the first six months of the year stood at RM276.7 million, a 7.0% increase compared with RM258.5 million last year.
Sunway Bhd recorded a second quarter ended 30 June 2017 pre-tax profit of RM271.4 million and a net profit of RM233.3 million, a jump of 33.2% and 29.7% respectively from the same quarter last year due to better performance from most business segments.
Profits were also boosted by the share of higher fair value gains from the annual revaluation exercise done on Sunway REIT properties of RM56.8 million in the current quarter, compared to RM23.7 million in the corresponding quarter of the previous financial year.
MSM Malaysia Holdings Bhd (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Berhad (FGV), is boosted with a 2.4% profit margin improvement for its Q2 FY17 against the preceding Q1 FY17 mainly due to the sales spike during the Hari Raya festive season.
Taking into consideration that 80% of MSM’s operating costs is highly dependent on global market price of raw sugar and foreign exchange rate, the quarterly profit margin improvement is a clear sign of confidence that MSM is focused on growing its market share penetration strategies.