Galaxy Entertainment Interim Profit Up 0.76% to HK$5.28 Billion, Dividend Raised 28.57%
Galaxy Entertainment reported interim profit attributable to shareholders of HK$5.28 billion for the six months ended June 30, up 0.76% year-on-year. Revenue rose 4.24% to HK$24.231 billion, while adjusted EBITDA increased 1% to HK$7 billion. The company declared an interim dividend of HK$0.9 per share, up 28.57%. Shares reversed earlier losses to trade up 2.1% at HK$33.66 in the afternoon, after hitting an intraday high of HK$34.14, up 3.5%.
Galaxy Entertainment's shares reversed to gains in afternoon trade after the company announced a significant increase in its interim dividend. As of 1:20 p. m. , the stock was trading at HK$33.66, up 2.1%, after touching an intraday high of HK$34.14, up 3.5%, with turnover exceeding HK$220 million. The company reported interim results for the six months ended June 30, with profit attributable to shareholders of HK$5.28 billion, up 0.76% year-on-year. Basic earnings per share were HK$1.206, and the interim dividend was HK$0.9 per share, an increase of 28.57%.
During the period, revenue was HK$24.231 billion, up 4.24% year-on-year. Adjusted EBITDA was HK$7 billion, up 1%. The company's interim profit rose slightly, but the significant increase in dividend drove the stock to turn higher in the afternoon.