NagaCorp Issues Profit Guidance for H1; Shares Down 3%

MT Newswires Live08-13

NagaCorp (HKG:3918) expects to either book a net profit or a net los for the six months ended June 30, compared to a profit of about $83.0 million yuan in the year-ago period, according to a Monday filing with the Hong Kong bourse.

The casino resort operator expects to record between a profit of $3.1 million or a net loss of $6.9 million for H1, the filing said.

The expected lower profit or loss is attributable to an expected impairment of roughly $85 million to $95 million for the Vladivostok Project.

The company will publish its results by the end of this month.

The company's shares were down almost 3% in recent trade.

Price (HKD): $3.24, Change: $-0.11, Percent Change: -3.28%

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