Genting's Q4 earnings slide 43.4%

PETALING JAYA: Genting Bhd's net profit dropped 43.4% to RM273.84 million for the fourth quarter ended December 31, 2014 compared with RM483.83 million in the previous corresponding period, mainly due to lower contribution from Singapore operations.
Revenue for the fourth quarter however rose 5.85% from RM4.40 billion to RM4.62 billion.
Genting has proposed a final dividend of 3 sen per share.
In a filing with Bursa Malaysia, Genting said it will continue to focus on the development of its Genting Integrated Tourism Plan at Resorts World Genting.
It also expects the non-gaming earnings to post respectable growth in 2015 as the travel industry climbs out of a difficult year in the region.
For 2014, Genting reported a drop of 17.34% in net profit to RM1.5 billion from RM1.81 billion, while its revenue was up 6.46% to RM18.22 billion from RM17.11 billion.