Genting quarterly profit down

PETALING JAYA: Genting Bhd’s net profit for the third quarter ended Sept 30 fell by about two-thirds to RM191.1mil despite a slight increase in revenue.

The company said that quarterly profits were weighed down by a lowered adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) coupled with a reversal of previously recognised impairment losses in the previous corresponding quarter compared with impairment losses in the current quarter with respect to its casino licences in the United Kingdom.