Genting Singapore Strong Profit Growth In Its Latest Earnings Update

Genting Singapore PLC (SGX: G13) is a Singapore-based regional leisure, hospitality and integrated resorts development specialist listed on the main board of the Singapore Exchange Securities Trading Limited. The Company undergoes in Singapore undervalued stock segment has casinos and integrated resorts in different parts of the world, including Australia, the Americas, Malaysia, the Philippines, and the United Kingdom.                                                                                                                                                                           

Genting Singapore PLC recently reported its 2018 third-quarter earnings update. Here Multi Management Future Solutions research some key points from Genting Singapore’s latest results from different sources, let's take a look-

1. The third quarter revenue of Genting Singapore is increased by 1% YOY to S$639.1 million in 2018. Strong growth of 9% to S$192.8 million was seen in non-gaming revenue, while gaming revenue decreased by 1% to S$445.4 million.

2. The gross profit for the quarter coming in at S$305.3 million, while net profit credited to shareholders rose 46% year-on-year to S$210.4 million. 

3. Similarly, the earnings per share were by 46% from a year ago to 1.75 cents.

4. The other operating income was seen 17 % jump to S$22.3 million, and a significant 97% decline in other operating expenses to S$1.2 million, led to Genting Singapore’s outstanding profit growth despite its flat gross profit.

5. The operating cash flow of S$248.2  million in 2018’s third quarter while capital expenditures came in at S$54.7 million which resulted in free cash flow of S$193.5 million, down 53.8% from S$418.7 million a year ago.

6. Genting Singapore’s borrowings stood at S$1.03 billion while its cash and bank balances stood at S$3.89 billion, giving it a net cash position of S$2.86 billion.