Mulpha International Q2 net profit dips to RM170.8mil
KUALA LUMPUR: Mulpha International Bhd recorded a lower net profit of RM170.80 million for the second financial quarter ended June 30, 2026, compared to RM270.85 million in the same quarter of the previous financial year.
Mulpha International Bhd reported a reduced net profit of RM170.80 million for Q2 2026, down from RM270.85 million in the same period last year. The profit dip was attributed to a one-off gain from divesting a 15.8% stake in Hydra RL Topco Pty Ltd during the previous quarter. Revenue for the quarter rose to RM263.13 million from RM201.63 million in the prior year's comparable period.
Despite the lower profit, Mulpha International believes its diverse business portfolio, which includes hospitality, residential development, and property investment, will provide resilience in an uncertain economic climate. Australian residential demand is anticipated to remain weak due to reduced buyer confidence resulting from the Reserve Bank of Australia's monetary tightening and potential future actions, alongside ongoing domestic inflation above target levels.
Recent tax changes introduced in the Australian Federal Budget have further contributed to price declines across the broader Australian residential market. In Malaysia, the operationalization of the Johor-Singapore Special Economic Zone is expected to bolster economic activity, potentially benefiting the group's leisure farm development.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
