Amax says H1 loss to widen on higher costs

Amax International said it expects to report a “moderately” wider loss in the six months to end-September compared with a net loss of HK$16,092,000 ($2 million) in the year-ago period due to higher general and administrative expenses and finance costs.
The junket operator posted a profit of HK$65.4 million for the year ending March 31st, mainly due to a gain from the sale of a subsidiary of HK$102 million.
However, Amax also warned that the figures will not include a contribution from its affiliate Greek Mythology (Macau) Entertainment Group, which should have a significant impact on its results.
Amax has been in a long-running dispute with Greek Mythology and is taking legal action to try to secure access to financial information.
The company sent a demand letter dated 3 October 2014 to the associate to request its
financial information for the six months ended 30 September 2014. However, no response from the associate has been received up to the date of this announcement, it said.