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Hong Kong MTR Corp’s profit rises 45% to HK$6 billion as ridership recovers strongly
Hong Kong’s MTR Corporation has posted a 44.7 per cent rise in net profit to HK$6.04 billion (US$769.2 million) for the first half of 2024, with the rail giant enjoying a robust recovery in ridership for domestic and cross-boundary services, as well as a strong performance from the high-speed rail.
Profits, which rose from HK$4.17 billion a year ago, were also helped by property development gains. Property profits increased 137.7 per cent to HK$1.74 billion, mainly derived from projects the Southland, La Marina and Villa Garda in Lohas Park.
CEO Jacob Kam Chak-pui said on Thursday that despite the rising profits, the rail operator needed to practise prudent financial management amid a volatile global economy.