Genting net profit lower

"The regional leisure and hospitality industry will be adversely impacted, including the gaming industry. Consequently, the GenM group is more cautious on the near-term prospects of the leisure and hospitality industry, ” said Genting.

PETALING JAYA: Genting Bhd’s net profit for the fourth quarter ended Dec 31,2019 was down 19.28% to RM528.82mil on the back of a 1.75% drop in revenue to RM5.3bil.

The lower profit was due mainly to a lower adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda), partially mitigated by a net gain on disposal of investment properties in the United Kingdom by the Genting Malaysia Bhd (GenM) group of RM132.1mil.