Recurrent profits for Hong Kong’s MTR Corp drop 15.7% in ‘eventful’ first half

Hong Kong rail giant the MTR Corporation has reported that profits from its recurrent businesses dropped by 15.7 per cent to HK$3.39 billion (US$432 million) 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.