Mushrif A 3 Report post Posted August 18, 2008 Group net profits for 2Q 2008 of just a whisker below RM40m. Operating profit of some RM60m. Cargo services contributed the largest chunk of operating profit at approx RM48m on operating revenues of about RM670m. Airlines services' revenue was some RM3.2bn but contributed only about RM18m in operating profits. Tahniah! Management full yr KPI is a target net income of RM400-550m. So far at the half-year mark, MH has posted some RM160m in net profits. This is less than half of target. Probably fuel price escalated beyond what the mngt originally expected. Share this post Link to post Share on other sites
M. Sofian H. 0 Report post Posted August 18, 2008 I just read result presentation for 2Q 2008. very amazing and scary!! see pic below! So many red color Well Done MAS Share this post Link to post Share on other sites
KK Lee 5 Report post Posted August 18, 2008 MH is doing relatively better than most other airlines. Hope MH will continue with this tradition rather than comparing only when is better. Share this post Link to post Share on other sites
BC Tam 2 Report post Posted August 18, 2008 Is nett profit of 40M quoted in RM or USD ? Share this post Link to post Share on other sites
EddieDaniel 0 Report post Posted August 18, 2008 It is MYR....MAS does not report profit in USD! Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted August 18, 2008 Malaysia Airlines Q2 Net Profit Falls 64.6 Percent August 18, 2008 State-controlled Malaysia Airlines reported on Monday a 64.6 percent drop in second-quarter net profit, hit by surging fuel costs. MAS, which carried 14 million passengers last year, earned MYR39.98 million ringgit (USD$12 million) in the second quarter ended June 30. That compared with a net profit of MYR112.85 million in the year-ago period. MAS launched this month a "flexi employment programme" aimed at cutting costs at a time when the global airline industry is facing the pinch from high fuel prices. The national flag carrier said that its employees would be given a choice of either a voluntary leave or a part-time program. It did not say how much money it hopes to save from the plan. Unlike many airlines around the world, state-controlled Malaysia Airlines has managed to stay in the black after the airline cut unprofitable routes and reduced headcount in a sweeping reform two years ago. (Reuters) Share this post Link to post Share on other sites
Waiping 12 Report post Posted August 18, 2008 (edited) Conflicting news? (edit) Got it. Same news, just different ways of presenting it. Edited August 18, 2008 by waiping Share this post Link to post Share on other sites
Kevin Teh 0 Report post Posted August 18, 2008 at least this time (in their report), they compare themself with the legacy carrier around the world not AK Share this post Link to post Share on other sites
T Azahan 1 Report post Posted August 18, 2008 Bravo MH. I always have soft spot on you! Share this post Link to post Share on other sites
yeadrian 0 Report post Posted August 18, 2008 good to know MH is turning to a better direction (I wonder if you know who has realized that it is better to leave MH to be run as a corporation?) although - SQ's 637mil against MH's 48mil is a BIG difference.... It still shows that MH can still gain improvements financially as well... Share this post Link to post Share on other sites
Gavin Andrew David 6 Report post Posted August 18, 2008 Why in their presentation they show 48mil USD Share this post Link to post Share on other sites
mohd sukri abd hamid 0 Report post Posted August 18, 2008 Well Done MH proud of you Share this post Link to post Share on other sites
Jessnor Arif 1 Report post Posted August 18, 2008 Why in their presentation they show 48mil USD That is half a year report. From Jan-Jun. Which MH post a profit of MYR160. Share this post Link to post Share on other sites
Kenneth T 0 Report post Posted August 18, 2008 (edited) In my opinion, the high fuel surcharge and the implementation of the penalty charge on all the Economy Class fares ae one of the revenue contributor. Edited August 18, 2008 by Kenneth T Share this post Link to post Share on other sites
Simon 3 Report post Posted August 19, 2008 That is half a year report. From Jan-Jun. Which MH post a profit of MYR160. I think you miss the word 'Million'. Share this post Link to post Share on other sites
Mushrif A 3 Report post Posted August 19, 2008 And you know what, during the presentation to media/ analyst, the MH CFO said that the purchase of new widebody aircraft has been DEFERRED to "some-time next year". WHich means whenever. I guess MH is going super prudent given the uncertainty and wants to remain cash rich for now. It may still be able to get early deliveries should things continue remaining bad and airlines dont want to pickup what they had ordered earlier. Share this post Link to post Share on other sites
H C Chai 4 Report post Posted August 19, 2008 I am not being miserable, but apart from SQ and Southwest, it looks like MH is comparing itself with airlines which are making losses. What happen to airlines such as Lufthansa, BA, Emirates, Qatar which are still making profits? It also fails to compare its own 1H07 results. Hmmm. Nevertheless, being able to make a profit in 1H08 is great! Share this post Link to post Share on other sites
Sandeep G 1 Report post Posted August 19, 2008 Lufthansa AG - Operating Profit: 405,000,000 Euros (Jan 08 - Jun 08) British Airways - Operating Profit: GBP 135,000,000 (Jan 08 - Jun 08) Share this post Link to post Share on other sites
