Genting Singapore H1 profit falls 33.54% to S$156.5 million despite stable revenue
Earnings have been affected by higher depreciation, lower interest income and asset refresh works
Genting Singapore reported a sharp 33.5% decline in first-half profit to S$156.1 million, despite stable revenue, as higher depreciation, reduced interest income and asset refresh works impacted earnings. The company's gaming revenue fell 4%, while non-gaming revenue grew by 6%. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) dipped 8.4% to S$389.8 million. Shares of Genting Singapore dropped 2.3% following the results.
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