Genting Malaysia Bhd's first-quarter FY2025 results surpassed analyst expectations, propelling its share price up 3.1% on Friday. The company reported strong growth in both revenue and net profit, driven by robust tourism recovery and improved operational efficiencies across its resorts, signaling a positive outlook.
Genting Malaysia Bhd (GenM) announced impressive first-quarter FY22025 results on Friday, with both revenue and net profit surpassing consensus market analyst expectations. The company reported an 18% year-on-year increase in revenue to RM2.75 billion for the quarter, and net profit surged to RM320 million, primarily driven by the robust recovery in the tourism sector and improved operational efficiencies across its resorts. Boosted by this positive news, Genting Malaysia's share price climbed 3.1% in Friday's trading, closing at RM2.65 per share. Analysts generally upgraded their earnings forecasts and target prices for the company, anticipating continued benefits from increasing international tourist arrivals at its Malaysian and New York operations. This positive earnings report also injected optimism into other tourism and leisure-related stocks.
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