Success Universe flags 1H profit, first since 2014

Aug 21, 2018 Newsdesk Latest News, Macau, Top of the deck  

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Macau casino investor Success Universe Group Ltd says it expects to record a profit for the first half of 2018, compared to a loss in the equivalent period a year earlier.

The group most recently made a first-half profit in 2014.

Success Universe is a venture partner – alongside a unit of gaming operator SJM Holdings Ltd – in casino hotel Ponte 16 (pictured), located on the Macau peninsula, which operates under SJM Holdings’ gaming licence.

The trading improvement for Success Universe – based on the unaudited accounts for the six months to June 30 – was “mainly attributable to the increase in fair value gain on investment properties of the group; and the group’s share of profit of the associates relating to Ponte 16,” the group said in a Monday filing to the Hong Kong Stock Exchange.

In first-half 2017, Success Universe had posted a net loss of approximately HKD21.1 million (US$2.7 million). That had been a 67-percent widening of the HKD12.6-million deficit posted in the first six months of 2016.

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