Genting Singapore shares up 6.4% despite H1 profit drop

Genting Singapore shares up 6.4% despite H1 profit drop


[SINGAPORE] Shares of Genting Singapore were up 6.4 per cent on Friday (Aug 14), despite the profit decline of 33.5 per cent for the first half of the year that was reported on Thursday.

The resort and casino operator’s H1 profit clocked in at S$156.1 million, down from S$234.7 million a year earlier. This was largely due to higher depreciation, lower interest income and asset refresh works, the group said.

Still, revenue fell only 0.9 per cent to S$1.2 billion due to support from non-gaming revenue growth. The segment brought in revenue of S$388.6 million, up about 6 per cent year on year.

The counter on Friday rose to S$0.665, adding about S$0.04 by noon as 114.4 million securities changed hands.



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Liam Redmond

As an editor at Forbes Europe, I specialize in exploring business innovations and entrepreneurial success stories. My passion lies in delivering impactful content that resonates with readers and sparks meaningful conversations.

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