Genting Hong Kong expects to report net profit in excess of $225 million

SINGAPORE - Genting Hong Kong is expected to report a net profit of more than US$180 million (S$225 million) for the six months ended June 30.

This is well up on the US$23 million it recorded for the same period last year, the casino operator said in a statement today, based on the preliminary assessment of the information currently available to the board.

The anticipated sharp increase in net profit is mainly due to the following factors:

* Gain arising from the disposal of certain stakes in Norwegian Cruise Line Holdings in March 2014 for about US$153 million, and

* Fair value gain of some US$15 million arising from a revaluation of certain financial assets.

The board said it is still in the process of finalising the group's results, which are expected to be announced in August.

Register here to get free digital access to The Straits Times until Aug 9, 2015.
Comments