Genting HK H1 profit boosted by stake sale, asset revaluation

    Genting Hong Kong says it expects to report H1 profit of about $180 million, about 8 times more than the $23 million it made during the same period of last year, boosted mainly by the sale of its stake in Norwegian Cruise Line Holdings in March.
    The company said in a Hong Kong Stock Exchange filing that the figures are preliminary and it will report full results in August.
    The company earned $153 million from the sale of the cruise line stake, as well as a further $15 million from the revaluation of certain financial assets. Stripping out the extraordinary gains, profit will be about $12 million, about half of the year-ago level. It gave no further details.