Genting Hong Kong Ltd has announced it is expected to record a consolidated net loss “in the range of US$60 million to US$75 million” for the six months ended June 30, 2016.
The loss is in stark contrast to a consolidated net profit of $2.1 billion, which was seen in 15H1.
The results exclude the share of results of Travellers.
“Such expected decline in the consolidated net results of the Group is mainly attributable to: (i) the absence of a one-off accounting gain of US$1.6 billion recognised arising from the reclassification of the Group’s investment in Norwegian Cruise Line Holdings Ltd... one-time start-up and marketing costs for the launch of new Dream and Crystal cruise brands and products in 2016; and higher overall operating and selling, general and administrative expenses including depreciation and amortisation as a direct result of the integration of the Group's recently acquired businesses,” said the company in a filing on Monday.
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