Palasino Holdings profit increases 80 per cent year-over-year
The company has reported profit attributable to shareholders of nearly $2m.
Hong Kong.- Palasino Holdings, the spinoff of Far East Consortium, has shared its financial results for the 12 months to March 31. The company reported profit attributable to shareholders of nearly HKD15.4m ($2m) for the 12 months to March 31, up 80.2 per cent year-over-year.
Revenue was HKD568.1m ($72.3m), flat compared to the prior financial year. Gaming revenue totalled HKD408.8m ($52m), up 1.6-per cent year-on-year. Adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) posted HKD75.4m, down 29.1 per cent year-over-year.
The company declared a final dividend of HKD0.029 per share for the 12 months to March 31, to be paid on September 19. The dividend amounts to nearly HKD23.5m ($3m).
Palasino Holdings runs three land-based casinos in the Czech Republic and hotels in Germany and Austria. It listed in Hong Kong in March last year as a spin-off from Hong Kong-listed property developer Far East Consortium International Ltd.
