SJM Hldgs Q3 net profit plunges to HK$285 mln

2015/11/4

From：Macau Business

Macau casino operator SJM Holdings Ltd has announced that its net profit fell to HK$285 million (about US$36.54 million) in the third quarter of this year, 81.4 percent less than a year earlier.

SJM Holdings announced that its revenue contracted by 37.9 percent to HK$11.24 billion.

Adjusted earnings before interest, tax, depreciation and amortisation decreased by nearly half to HK$884 million.

The company’s announcement quotes its chief executive, Ambrose So Shu Fai, as saying gaming business conditions in Macau are challenging, but that the company has a strong balance sheet and is optimistic that it will complete its new Lisboa Palace casino-resort in Cotai on schedule and on budget.

Copyright@Macau Business