GGRAsia – Dragon Success Flags Shift to 1H Profit After Last Year’s Loss
Success Dragon flags jump to 1 hour profit after last year’s loss
Gaming service provider Success Dragon International Holdings Ltd expects net profit of HKD 4.4 million (US $ 565,000) for the six-month period ended September 30 this year, compared to a net loss of 6.1 million HKD during the period of the previous year.
The group said in a filing on the Hong Kong Stock Exchange on Monday that the expected improvement was due to a 143% increase in gross profit for the period, to HKD 21.4 million, from HKD 8.8 million in the period. during the interim period of the previous year. .
This in turn had been affected by improving trading conditions, including[ing] of control “in Macao” on measures against the spread of Covid-19 “. This had enabled the group to “attract more business” as part of its “outsourced management of business processes” work.
Revenues from these works are expected to increase 7.3 percent to HKD 19.1 million from HKD 17.8 million in the comparable period of the previous year.
In September, Success Dragon announced that it had reached an agreement to âsupply, install and manageâ a minimum of 120 slot machines and multi-terminal machine units in slot rooms at Macau casinos. Grandview and Casa Real.
The properties are controlled by the Hong Kong-listed Kingston Financial Group Ltd. and operated under the gaming license of Macau concessionaire SJM Holdings Ltd.
In its positive earnings warning on Monday, Success Dragon said that April-September revenue from its gold-laden carbon processing and trading business is expected to jump nearly 189% year-on-year, from 29 , 6 million HKD to 85.5 million HKD.