Paradise shares shine as analysts predict strong growth

    Published in: Latest IntelligenceParadise shares shine as analysts predict strong growth Shares in Paradise Entertainment (1180.HK), one of three licensed casino-service firms in Macau, surged over the week after better-than-expected 2013 results reported last Thursday triggered bullish analyst comments. The firm, controlled by local businessman Jay Chun, reported a 27 percent year-on-year decline in net profit last year to HK$97 million, but that was still about 25 percent above analysts’ estimates.The expected drop in net earnings was a result of higher amortization costs and a surge in administrative expenses. Shares in Paradise, which also declared a maiden dividend of HK$0.05 per share, giving a yield of about 1 percent, soared by 9.3 percent to HK$6.93 on heavy turnover, making it the second-best performing casino-related stock in Hong Kong so far this year. Paradise shares are up 69.4 percent in 2014, lagging Landing International Development (582.HK), which has surged 115 percent in the same...

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