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Genting Bhd Q2 net loss narrows to RM563.53m on higher adjusted earnings | Malay Mail

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KUALA LUMPUR, Aug 27 — Genting Bhd’s net loss narrowed to RM563.53 million in the second quarter ended June 30, 2021 (Q2 FY2021) from a net loss of RM786.05 million. Genting told the stock exchange the lower net loss in Q2 FY2021 was due to higher adjusted earnings before interest, tax,...

KUALA LUMPUR, Aug 27 — Genting Bhd’s net loss narrowed to RM563.53 million in the second quarter ended June 30, 2021 from a net loss of RM786.05 million.

Revenue during the quarter under review rose more than two-fold to RM2.94 billion from RM1.11 billion previously, mainly contributed by the leisure and hospitality segment, it said. “Revenue and EBITDA from the power division increased mainly due to higher net generation from the Indonesian Banten plant, while the oil and gas division recorded higher revenue and EBITDA mainly due to higher average oil prices in the second quarter,” it said.

“The decline came primarily from the leisure and hospitality segment, which was partially offset by improved performance in the plantations segment.

 

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