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Genting Hong Kong predicts smaller first half loss

Genting Hong Kong, the parent company of Star Cruise, Dream Cruises and Crystal Cruises, said that it expects smaller first half loss than a year ago..

Based on the preliminary assessment of the latest unaudited financial information, excluding the share of results of Travellers, the Group is expected to record a consolidated net loss in the range of $150 million to $170 million for the six months ended 30 June 2018, the company said in a statement.

This compares with a consolidated net loss of $205.4 million, excluding the share of results of Travellers, for the six months ended 30 June 2017.

Such expected reduction in the consolidated net loss of the Group is mainly attributable to the improved performance of the cruise segment.

However, the improved performance of the cruise segment is partially offset by a lower cost capitalisation in the shipyards for the six months ended 30 June 2018 as the keel laying of the 20,000 gross ton Crystal Endeavor and the first 204,000 gross ton Global Class ships will be in August 2018 and September 2018 respectively, which will subsequently increase the rate of production and cost capitalisation.

 

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