Success Universe forecasts H1 profit jump

Success Universe, an investor in Macau’s Ponte 16 resort, said it expects its group profit for the six months to end-June to be about two to three times the level of the prior year.

In a statement to the Hong Kong Stock Exchange, it said profit in the same period of 2018 was HK$14.2 million ($1.8 million). 

The group said the increase came mainly from its share of the profits from Ponte 16, its flagship project. Success Universe teamed with SJM Holdings on the project and has a 49 percent stake. 

The company said the gains come despite a decrease in fair value gain on some of its investment properties. It gave no further details. 

Its full results will be released in late August.