Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Update GenM 2Q profit drops 44% to RM254.4 million

Bursa Community :: Community News

Go down

Update GenM 2Q profit drops 44% to RM254.4 million Empty Update GenM 2Q profit drops 44% to RM254.4 million

Post by Cals Fri 29 Aug 2014, 00:40

Update GenM 2Q profit drops 44% to RM254.4 million
Business & Markets 2014
Written by Shalini Kumar of theedgemalaysia.com   
Thursday, 28 August 2014 19:39

KUALA LUMPUR (Aug 28): Genting Malaysia Bhd (GenM) posted a 44% drop in net profit for the second quarter ended June 30, 2014, to RM254.4 million, from RM460.4 million in the previous corresponding quarter. 

Revenue also fell 13.6% to RM1.9 billion, from RM2.2 billion previously, due to lower hold percentage in the premium player business. 

For the cumulative period, GenM's net profit fell 29.7% to RM612.7 million, on lower revenue of RM3.9 billion. 
Both the Malaysian and UK operations recorded lower revenue over the first half of the year, while revenue from the US operations was higher by RM55 million or 12%, mainly contributed by the commencement of the Bimini operations. 

Looking ahead, the group said it remained positive on longer term outlook for the leisure and hospitality industry.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum