Recurrent profits for Hong Kong’s MTR Corp drop 15.7% in ‘eventful’ first half
Rail giant records HK$3.39 billion in profit in first half of year, while CEO Jacob Kam attributes lower figure to increased operating costs
Hong Kong rail giant the MTR Corporation has reported a 15.7 per cent drop in recurrent-business profit to HK$3.39 billion in the first six months of this year from the same period in 2024 due to higher operating costs.
After taking into consideration property gains and losses from a one-off revaluation of investment properties, the group said on Thursday that its net profit jumped 27.5 per cent to HK$7.7 billion during the first half of 2025.
MTR Corp CEO Jacob Kam Chak-pui said that business over the period had been “eventful”.
“The first six months of 2025 proved to be an eventful time that saw the MTR take meaningful steps forward in its expanding capital works programme, while rising patronage figures drove solid results for the company’s operating revenue,” he said.
Kam added that the company was in the “harvesting stage” of its earlier property development projects.
It recorded a property development profit of HK$5.54 billion in the first six months of this year compared with HK$1.74 billion in the same period in 2024, mainly from two packages near Ho Man Tin station and another two at The Southside mall near Wong Chuk Hang station.