Malaysia-based Genting BHD’s 2016 earnings soared by 125 percent, thanks to a one-off gain in the fourth quarter from the disposal of the group’s investment in Genting Hong Kong Ltd.

genting-bhd-2016-earnings-jumped-125-percentThe Malaysian casino operator announced in its filing with Bursa Malaysia on Thursday that its full-year profit in 2016 leap-frogged to MYR2.88 billion (US$648.06 million) compared to its MYR1.26 billion (US$283.53 million) profit in the previous year.

On the other hand, the group’s total revenue and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 6% to MYR8.9 billion (US$2.01 billion) and 5% to MYR2.43 billion (US$547.43 million) respectively.

“In FY16, the leisure and hospitality business in Malaysia recorded growth in revenue and adjusted EBITDA despite the disruptions arising from ongoing development under the Genting Integrated Tourism Plan (“GITP”),” the company said in a statement.