Genting Singapore Q2 profit surges

GENTING Singapore's net profit for the second quarter ended June 30 jumped to S$172.71 million from S$18.85 million a year ago.

The bottom line was strengthened by higher revenue and lower sales cost.

Revenue was 24 per cent higher year on year at S$596.08 million on the back of higher rolling win percentage in the premium player business.

Earnings per share came to 1.19 Singapore cents, compared to a loss per share of 0.09 cent a year ago.

An interim dividend of 1.5 Singapore cents has been declared, payable on Sept 20.

For the six-month period, net profit rose to S$382.88 million from S$59.08 million, while revenue edged up 9 per cent year on year to S$1.18 billion.