Genting Empire Resorts Performance for Quarter ended 30 September 2023 (“3Q 2023”) compared with quarter ended 30 September 2022 (“3Q 2022”)...
- higher share of losses in associates, Genting Empire Resorts LLC, the holding company of Empire Resorts, Inc. (“Empire”) by RM24.0 million. This was mainly due to higher payroll costs and operating expenses incurred during the period. The Group also recorded higher share of losses in Empire following the increase in effective ownership interest in Empire by the Group from 66.6% to 76.3% since 4Q 2022.
Genting's 3Q net profit jumps four fold KUALA LUMPUR: Genting Bhd's third quarter ended Sept 30, 2023 (3Q23) net profit increased nearly four fold to RM520.52 million from RM128.02 million a year ago, on higher earnings with lower impairment losses, and higher share of profit in joint ventures and associates.
The group's adjusted earnings before interest, tax, depreciation and amortisation (ebitda) for 3Q23 was RM2.7 billion, an increase of 33 per cent compared with RM2.1 billion in 3Q22.
The higher share of profit in joint ventures and associates was mainly contributed from the Meizhou Wan power plant in China due to higher generation coupled with lower coal cost compared with previous year's corresponding quarter.
Revenue for the quarter rose 20.4 per cent to RM7.37 billion from RM6.12 billion previously, contributed mainly by the leisure and hospitality division.
Don’t get carried away we have group very strange investors…the price should rally strongly but small and insider investor behaviour is strange unless foreign i institutions come in big numbers including US funds! But they have great investment choice locally.
IMCK, the price never goes back to NTA….we know that….Genting shareholders are not your average investors …..first of all big chunk is held by insiders than we have many small holders who sell for small gains. Insiders need funds for other needs. A huge catalyst is needed to get Genting on major uptrend. Good Results not sufficent,
never go back is because of quater result dragging but genting already recorder highest revenue in history and net profit back to previous high and going hit more history new high
GenS contributed most of the profit and GenM finally turned profit. In sum, anything above RM6Bil revenue is the profit so RM7.37Bil revenue PBT was RM1.3Bil. If RM8Bil next quarter PBT will be RM2Bil. Nice!
Next year February announce Q4 and Total 2023 result. Total Profit could hit RM1.4 billions. Share price should break RM5.00 Next year with the extra ordinary gain on sale of US land, the share price could hit RM6.00. If TauRX approve, estimate early 2024. Share price could hit RM8.00.
@ tothemoon1218: Genting C2O is issued by CIMB. But CIMB do not provide warrant matrix. I mean when the mother share GENTING is RM4.53, what is the price of GENTING C2O should be? All the other investment banks got provide warrant matrix. Kenanga, Maybank, Affin & Ambank except CIMB. Kenanga is the best because it provides the time decay as well. How to trade CIMB co-warrants without warrant matrix?
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ImCK
3,486 posts
Posted by ImCK > 2023-11-23 22:45 | Report Abuse
Pe 10-20 is archieable for this kind superbrand monopoly duopoly high growth company