KL copter firm's profits up

KL copter firm's profits up

KUALA LUMPUR (AFP): Malaysian Helicopter Services Bhd (MHS), which is to acquire a strategic stake in the country's national airline, has reported an 18.8 percent hike in group pre-tax profit for the half year to June 30.

In a statement to the Kuala Lumpur Stock Exchange, the listed company said Monday the group recorded pre-tax profit of 9.99 million ringgit (US$3.9 million) for the six months to June 30, up from 8.4 million ringgit for the previous period.

This was made on a 10.2 percent rise in group turnover to 74.63 million ringgit from 67.64 million ringgit.

But at company level, the helicopter firm's pre-tax profit plunged 89.6 percent to 928,000 ringgit from 8.9 million ringgit, on an 11.28 percent decline in turnover to 7.95 million ringgit.

MHS, controlled by entrepreneur Tajudin Ramli, is to acquire a 32 percent stake in Malaysia Airlines for 1.8 billion ringgit.