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Success Dragon ceases operation of Landmark Macau

Hong Kong-listed Success Dragon says it has decided to cease its operations at Landmark Macau after recording a widened segment loss for the six months ended September 30, 2017.

The company said that revenue from its Outsourced Business Process Management decreased 5.7 percent to HK$60.4 million, due mainly to poor performance in the Macau gaming market.

“Despite the cost control measures implemented by the group in Macau operations, the loss from such segment increased,” it wrote in an interim report to the Hong Kong Stock Exchange,

“The loss from this captioned segment during the period under review was approximately HK$9.2 million compared with loss of approximately HK$2.0 million during the last corresponding period, which is mainly due to heavy operating cost and worse performance of one of the operation outlets located at the Landmark Macau,” it added.

“As a result, the management of the group decided to cease such operation at the Landmark Macau as at the end of the period under review.”

The group posted total revenue of HK$65.8 million in the six months ended September 30, down from HK$81.7 million in the prior year period.

Its loss for the period was HK$28.6 million, compared to HK$30.2 million in 2016.

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