Galaxy Entertainment (0027) saw its first-half net profit slightly rise 0.8 percent year-on-year to HK$5.28 billion, while its interim dividend jumped 28.5 percent to 90 HK cents per share.
The group's net revenue rose 4 percent to HK$24.23 billion. Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) edged up 1 percent to HK$7 billion, but surged 14 percent on a normalized basis after adjusting for a HK$23 million impact attributed to low win rates.
Net gaming revenue increased 5 percent to HK$19.52 billion. Meanwhile, revenue from hotels, mall operations and others also went up over 7 percent to about HK$3.4 billion.
Management noted that they will continue to ramp up properties including Capella at Galaxy Macau, the Galaxy International Convention Center, Galaxy Arena, Raffles at Galaxy Macau, and Andaz Macau, while actively advancing the non-gaming focused Phase 4 development. The group is also undertaking a major upgrade at StarWorld Macau and continuously exploring opportunities in overseas markets.
Shares of Galaxy Entertainment once rose over 3 percent against the market on Wednesday afternoon, and are now quoted at HK$34.14.
