HALF-YEAR profit of the First Myanmar Investment Public Co Ltd (FMI Group) up to September 2023
increased more than 68 per cent, and the revenue rose 43.9 per cent compared with the corresponding period last year, the group said on 16 December. FMI earned K229.4 billion and K159.4 billion in this and the previous half of the financial year, respectively, up 43.9 per cent, mainly thanks to financial services (Yoma Bank) and healthcare services (Pun Hlaing Hospital Group). Yoma Bank earned K190.7 billion and K130.4 billion in this and last year’s half-financial year, respectively, a 46.2 per cent increase, mainly due to various bank loans and banking services. Pun Hlaing Hospital Group earned K 38 billion and K 29 billion in this half financial year and last year, respectively, increasing 31.4 per cent, mainly due to medical checkups, emergency treatment, and inpatient and outpatient medical services.
As a result, FMI Group made a gross profit of K90.9 billion, up 68.6 per cent compared with K53.9
billion last year. Memories Group, a travel agency of FMI Group, that has signed management contracts with famous buildings in Yangon, such as Boutique Hotel, Governor Residence and British Club, is expanding its resort services market amid the challenges of declining foreign tourist arrivals and slowing domestic tourism services, it also stated.
Source: The Global New Light of Myanmar