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HOTELS & TOURISM | Staff Reporter, Singapore
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Genting Hong Kong hikes profit forecast to not less than US$2 billion

On back of massive divestment gains.

Genting Hong Kong said that it expects its full-year net profit to reach not less than US$ 2 billion, a sharp increase from its FY14 net profit of US$331.7 million.

The massive increase is on back of the US$658.6m gain from the disposal of its stake in Norwegian Cruise Line Holdings (NCLH), as well as a one-off accounting gain of US$156 billion upon completion of a secondary offering of NCLH’s ordinary shares.

The group will also enjoy a one-off gain of US$124.0 million in November 2014 arising from the deemed disposal of certain stake in NCLH. The group also said that there will be an increase in foreign exchange loss of approximately US$24.5million primarily attributable to depreciation of certain foreign currency-denominated bank balances against the US dollar.

The group will unveil its final results in March.

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