Landing International expects only “slight” net loss

Landing International expects only “slight” net loss

The company has reported it expects no big losses for H1 despite the pandemic crisis.

Hong Kong.- Landing International Development has said it expects to post only a slight year-on-year net loss despite a 25 per cent fall in revenue.

In a filing to the Hong Kong Stock Exchange, the firm said it “expected to record a decrease in consolidated revenue of approximately 25 per cent and a slight decrease in consolidated net loss for the six months period ended 30 June 2020 as compared with the corresponding period in 2019.”

Due to the measures to contain the spread of the novel coronavirus virus, the group’s integrated resort in South Korea, Jeju Shinhwa World, suffered a mass drop in visitation. The company also saw a reduction of property sale activities.

However, Landing has reported an increase in net revenue from its gaming business, a decrease in operating expenses and a decrease in finance costs for lease liability due to the termination of leases in 2019.

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