SJM books HK$3b annual loss

Business | 23 Feb 2021 5:28 pm

SJM (0880) said it recorded a net loss of HK$3.03 billion last year, severely impacted by the coronavirus disease outbreak.

This compared with a net profit of HK$3.21 billion in 2019.

The basic loss per share were 53.3 HK cents.

The Macau gaming company did not recommend a final dividend. It declared final dividend of 22 HK cents in 2019.

Adjusted EBITDA was HK$2.09 billion.

Net gaming revenue plunged by 78 percent year-on-year to HK$7.3 billion. Hotel, catering, retail and other income fell by 65.8 percent from a year ago to HK$359 million.

Grand Lisboa Hotel occupancy fell to 17.9 percent for the full year, while the average room rate dropped by 2.9 percent to HK$1,465.

The group expects to open the Grand Lisboa Palace during the first half this year.


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