Genting Singapore has posted a net profit of $210.4 million in the third quarter, up 46 per cent from the same period a year earlier, as its attractions at Resorts World Sentosa (RWS) pulled in the crowds.
Revenue in the three months ended Sept 30 rose 1 per cent to $639 million. Gaming revenue at the integrated resort fell 1 per cent to $445.4 million, though this was offset by a 9 per cent rise in non-gaming revenue to $192.8 million. On a quarter-on-quarter basis, gaming revenue climbed 10 per cent while non-gaming revenue jumped 26 per cent.
The attractions at RWS boosted third-quarter earnings, led by Universal Studios Singapore, S.E.A. Aquarium and Adventure Cove Waterpark, Genting Singapore said in its results filing yesterday.
"During the quarter, we attained an average daily visitorship of over 22,000 and an increase in average visitor spend across all offerings. Our hotel business continued to outperform the industry with an average occupancy rate of over 97 per cent. Our VIP rolling volume continued to grow," the group added.
Adjusted earnings before interest, tax, depreciation and amortisation came to $318.8 million, flat from the third quarter last year but up 20 per cent from the preceding quarter.
Earnings per share was 1.75 cents, up 46 per cent from 1.20 cents in the third quarter last year. Net asset value per share was 63.3 cents as at Sept 30, against 61.8 cents as at Dec 31 last year.
SIA Engineering's net profit slipped to $38 million for its fiscal second quarter ended Sept 30, from $38.6 million the year before.
This comes as its revenue for the period declined to $251.3 million, from $274.7 million, which was due mainly to lower airframe and fleet management revenue, the aircraft maintenance, repair and overhaul services company said yesterday.
Its operating profit was down 43.8 per cent to $11.3 million. Earnings per share for the quarter was 3.39 cents, down from 3.44 cents the year before.
SIA Engineering declared dividends of three cents per ordinary share. For the same period last year, it paid out dividends of four cents per ordinary share.
The company said it expects its operating environment to remain challenging, "with longer maintenance intervals and lighter work content arising from new-generation aircraft".