MMC FY20 net profit up 47% to RM375m

MMC Corp said the higher profit in FY20 was mainly due to higher container volume handled at Port of Tanjung Pelepas (PTP) and other divisions,

KUALA LUMPUR: MMC Corporation Bhd recorded a strong set of results with net profit at RM375.29mil in the financial year ended Dec 31, 2020 boosted by its port and its construction operations.

The utilities and infrastructure group announced on Friday the net profit was up 47% from RM255.16mil in FY19. Profit before zakat and taxation (PBZT) rose by 24% to RM646mil from RM522mil in FY19.