Summary by Moomoo AI
In the first half of 2024, MTR Corporation recorded a total revenue of 29.271 billion Hong Kong dollars, up 6.2% from the same period last year. Recurring business profit reached 4.024 billion Hong Kong dollars, a 66.3% increase, mainly due to the sustained recovery of local, transit, and high-speed rail service passenger volumes. The property development business also recorded a post-tax profit of 1.722 billion Hong Kong dollars, mainly from the profit entries of Phase 1 and Phase 2 of Hong Kong Island South and Phase 11 of Sunrise Gateway. The fair value gain on investment property measurement was 0.28 billion Hong Kong dollars. Shareholders' net profit attributable to the company was 6.044 billion Hong Kong dollars, a 44.7% increase from the same period last year, equivalent to earnings per share of 0.97 Hong Kong dollars. The Board declared an interim dividend of HK$0.42 per share. Looking ahead, MTR will continue to exercise prudent financial management and explore new opportunities to drive business growth.
