Neptune Group 2014 net profit falls 9 percent

The Neptune Group, which owns and operates VIP rooms in Macau, said net profit in the year ending June 30th, 2014, declined 9 percent, but it remains “cautiously optimistic” about the territory’s junket business.
Net profit dropped to HK$515.41 million ($66.3 million), down from HK$564.5 million in the prior year.
In a statement to the Hong Kong stock exchange, Neptune said the Macau gaming market was "slightly affected" by the soft landing of the Chinese economy in the first half of 2014.
The company also reported a 23 percent rise in turnover to HK$710.39 million from HK$577.52 million, but said "other net losses" rose to HK$113.11 million from HK$13.44 million a year earlier.
The group said it would resolutely continue to develop its presence in Macau, and beyond to balance its sources of revenue.
Over time it said it expects to continue to benefit from its strategic investments in the Macau VIP junket business. "We are cautiously optimistic about the VIP room business," it said.
The group operates junkets in The Venetian, Sands Macao, Galaxy, StarWorld, Grand Lisboa and the City of Dreams. It said the allocation of their VIP tables are 14 tables in the Venetian, 11 tables in Sands Macao, 18 tables in the Galaxy, 22 tables in StarWorld, 13 tables in Grand Lisboa and 11 tables in City of Dreams, adding up to 89 tables in total.
In addition to organic growth, the group plans to expand the business by "prudently seeking suitable investment opportunities."