Genting says Q3 net profit down 45pc

KUALA LUMPUR, Nov 29 — Malaysia's Genting Bhd said today its net profit for the third quarter ended Sept 30 fell 45 per cent to RM190.3 million from RM347.1 million the same quarter a year ago.

The gaming-to-power group said the weaker performance stemmed mainly from impairment losses as well as higher depreciation costs.

Genting said revenue dropped to RM1.943 billion from RM2.316 billion a year earlier.

The company's shares closed 2 per cent lower at RM8.82 a share today, compared with the broader market's 0.05 per cent rise. — Bernama