China Star expects profit increase

    China Star expects profit for the six months ended 30 June 2014 to increase by as much as 85 – 95 percent, compared to $7.8 million (HK$60,789,000) for the six months ended 30 June 2013, the company told the stock exchange. 

    The announcement was based on a preliminary review of the unaudited accounts for the first half of the year, which the company attributes to: substantial decrease in impairment loss recognised in respect of the intangible assets of the gaming promotion operations of approximately HK$34 million from HK$41,036,000; the absence of share-based payment expenses of HK$8,747,000 recorded in the six months ended 30 June 2013; increase in other revenue of approximately HK$11 million; and a decrease in finance costs of approximately HK$11 million. 

    China Star is in the process of finalising its interim results for the six months ended 30 June 2014, which it expects to publish on 28 August 2014.