Genting Bhd announced better-than-expected fourth-quarter earnings, primarily driven by the robust recovery in the tourism sector. Its share price rose 2.5% today following the positive news. The company's diversified leisure and hospitality operations, both local and international, contributed significantly to this impressive financial performance.
Genting Bhd today announced encouraging fourth-quarter financial results, with a net profit of RM450 million, significantly exceeding market expectations. This robust performance is primarily attributed to the ongoing recovery in global tourism, particularly the substantial increase in visitor numbers at Resorts World Genting in Malaysia and Resorts World Sentosa in Singapore. The company's revenue grew 18% year-on-year, reaching RM720 million. Boosted by this news, Genting Bhd's share price climbed 2.5% today to RM4.90 per share. Analysts are optimistic about Genting's future prospects, anticipating continued growth in its leisure and hospitality businesses as international travel further opens up and consumer confidence strengthens. The company's management stated that they would continue to focus on enhancing operational efficiency and customer experience to solidify its market leadership.
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