Genting Singapore shares sold off on dismal earnings and no interim dividend in 1H

SINGAPORE -Investors dumped the stock of Genting Singapore on Friday , a day after the listed casino operator posted its worst-ever quarterly performance and did not declare an interim dividend for the first half, despite sitting on a huge net cash pile of about $3.3 billion.

He, however, added that despite the"brutal hit to its earnings, we believe downside from here on is limited due to its attractive valuation." Without international travellers, its non-gaming attractions will also not be able to break even, he added. The move sent gaming revenues plunging 99 per cent to just $6.5 million in the second quarter from $441.1 million a year ago, while non-gaming revenues plummetted 92 per cent to $16.3 million from $195 million a year ago.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Glove-maker Riverstone doubles H1 earnings to RM137.5m; raises interim dividend to 4 senMALAYSIAN glove-maker Riverstone Holdings posted a 119.3-per-cent surge in net profit to RM137.5 million (S$45.27 million) for the six months ended June, driven by the spike in global demand for its health-care examination gloves, clean-room gloves and face masks. Read more at The Business Times.
Fonte: BusinessTimes - 🏆 15. / 51 Leggi di più »

Singapore banks' shares climb despite fall in Q2 earningsSHARES of local banking trio rose on Thursday, as investors found some cheer from conservative provisions set aside by DBS and UOB, and an unchanged outlook guidance in their latest quarterly results released before market open. Read more at The Business Times.
Fonte: BusinessTimes - 🏆 15. / 51 Leggi di più »