Malaysia-based Genting BHD’s net profit leapfrog at the start of 2017, driven by its hospitality, leisure, and plantation activities.

The holding company announced that its net profit grew more than threefold or 361 percent to RM603.1 million (US$140.78 million) in the first quarter ended March 31 from RM130.8 million (US$ 30.53 million) a year ago.

Genting, however, reported that it eked a one percent year-on-year revenue gain, raking in RM4.77 billion (US$1.11 billion) from RM4.71 billion (US$1.10 billion).  The Malaysian-firm attributed the increased revenue to better hold percentage from the mid to premium segment of the business even though business volumes were lower.

On the other hand, the group’s profit before tax in the January to March 31 period was at RM1,455.8 million (US$339.83 million), a significant increase compared to last year’s Q1 profit of RM542.7 million (US$126.68 million).