Genting Malaysia has reported a significant uptick in revenue for the three- and 12-month periods ending December 31, 2024, thanks in large part, it says, to the UK and Egyptian markets.
The group’s Q4 24 revenue reached MYR2.73bn 2.7bn (US$611.7m) up from MYR2.72bn ($610.1m).
The group stated that the higher revenue was mainly from “the leisure and hospitality businesses” in the UK and Egypt “due to higher volume of business, offset by strengthening of RM against GBP and USD.”
Adjusted EBITDA for the quarter, however, was MYR180.6m ($40.5m), down from MYR843.9m ($189.2m) in Q4 2023, a decrease of 79 per cent.
Looking at the whole year, the group’s revenue was MYR10.9bn ($2.45bn), up from MYR10.2bn ($2.28bn) the previous year.
“Global economic growth is expected to continue at an uneven pace, with divergent trends across advanced economies and emerging markets,” said the group, looking to the future. “Downside risks to global growth remain amid ongoing geopolitical tensions and global trade frictions.
“Malaysia’s economic growth is expected to continue, supported by domestic demand, although the outlook remains influenced by ongoing uncertainties both globally and domestically. Additionally, the inflationary environment is expected to continue being influenced by domestic policy measures.
“The group is cautiously optimistic of the near-term prospects of the leisure and hospitality industry and remains positive in the longer-term.”
