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Prolintas returns to the black with RM2.09m net profit in Q12024 fresh off listing

New Straits Times – Business Times 

KUALA LUMPUR: Prolintas Infra Business Trust returned to the black with a net profit of RM2.09 million in the first quarter ended Mar 31, 2024 (Q1 2024) in the absence of a one-off deferred tax reversal seen in the same period last year.

The business trust reported a net loss of RM81.78 million in the same period last year.

Prolintas Infra Business Trust, which touts itself to be Southeast Asia’s first highway business trust, was listed on Mar 25, 2024.

Revenue for the quarter under review more than doubled to RM76.53 million from RM32.64 million a year ago.

The company said toll collection contributed RM75.4 million or 99 per cent of the total revenue, followed by non-toll revenue which contributed one per cent or RM400,000.

In comparison with the first quarter ended 31 March 2023, SILK Group  recorded a total revenue of RM32.6 million.

Toll collection came in at 98 per cent or RM31.9 million and the remaining two perc ent was from  non-toll revenue.

The trust group registered profit from operations of RM41.5 million in the current quarter.

“The Trustee-Manager maintains an optimistic outlook regarding the future performance of the highways. The Trustee-Manager key focus is to complement the organic growth of the highways with value-added services such as petrol stations, convenience stores and electric vehicle charging stations along the highways’ to maximise its revenue-generating potential and to establish the highways as preferred routes for travel. The Trustee-Manager will also focus on achieving cost efficiencies through operational excellence,” it said in a filing to Bursa Malaysia.

Read full article here : New Straits Times