Stock Track | NagaCorp Plunges Nearly 12% After Profit Warning and Impairment Charge

Stock Track08-13

Shares of NagaCorp Ltd. (HKG:03918), the casino resort operator, plunged nearly 12% during intraday trading on Monday after the company issued a profit warning for the first half of 2023 and announced a significant impairment charge related to its Vladivostok Project.

In a filing with the Hong Kong stock exchange, NagaCorp stated that it expects to either book a net profit of around $3.1 million or a net loss of $6.9 million for the six months ended June 30. This is a significant decline compared to the profit of approximately $83.0 million reported in the same period last year.

The company attributed the expected lower profit or potential loss to an impairment charge of approximately $85 million to $95 million for its Vladivostok Project. This impairment charge appears to be a major factor contributing to the sharp decline in NagaCorp's stock price, which fell by nearly 12% during intraday trading on Monday.

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(HKG:03918), the casino resort operator, plunged nearly 12% during intraday trading on Monday after the company issued a profit warning for the first half of 2023 and announced...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03918","symbol_name":"金界控股","start_time":0,"source_url":"","article_id":"1156217303","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156217303","pubTimestamp":1723535912,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of NagaCorp Ltd. , the casino resort operator, plunged nearly 12% during intraday trading on Monday after the company issued a profit warning for the first half of 2023 and announced a significant impairment charge related to its Vladivostok Project.In a filing with the Hong Kong stock exchange, NagaCorp stated that it expects to either book a net profit of around $3.1 million or a net loss of $6.9 million for the six months ended June 30. 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