Genting Singapore shares up 4.8% despite H1 profit drop
The counter rises as high as S$0.655, adding about S$0.03 in the first five minutes of trading
Genting Singapore's shares climbed by 4.8% on Friday, Aug 14, despite a significant 33.5% drop in first-half profit. The company reported a profit of S$156.1 million for the period, down from S$234.7 million in the same period last year. This decline was attributed to higher depreciation costs, reduced interest income, and asset refresh works.
However, revenue only decreased by 0.9% to S$1.2 billion, driven by growth in non-gaming revenue. The segment generated S$388.6 million in revenue, a 6% increase compared to the previous year. During the first five minutes of trading, the shares rose to S$0.655, with a trading volume of 29.5 million securities.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Genting Singapore shares up 6.4% despite H1 profit drop businesstimes.com.sg
