FMI profit up 68 % thanks to financial and healthcare services

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Pun Hlaing Hospital (Mandalay). Photo: FMI

Half-year profit of the First Myanmar Investment Public Co.,Ltd (FMI Group) up to September 2023 increased more than 68 percent and the revenue rose 43.9 percent compared with the corresponding period last year, the group said on 16 December

FMI earned K 229.4 billion and K 159.4 billion in this and previous half of the fiscal year respectively, up 43.9 percent, mainly thanks to financial services (Yoma Bank) and healthcare services (Pan Hlaing Hospital Group).

Yoma Bank earned K 190.7 billion and K 130.4 billion in this and last year’s half fiscal year respectively, an increase of 46.2 percent, mainly due to various bank loans and banking service.

Pan Hlaing Hospital Group earned K 38 billion and K 29 billion in this half fiscal year and last year respectively, increasing 31.4 percent, mainly due to medical checkups, emergency treatment, and inpatient and outpatient medical services.

As a result, FMI Group made a gross profit of K 90.9 billion, up 68.6 percent compared with K 53.9 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 said.

MT/ZN

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