In line with ours, but above consensus on PBT level. Genting’s 1QFY10 normalised pretax profit was in line with our expectations, coming in at 24% of our FY10 forecasts, but above consensus, comprising 30% of consensus forecasts. We compare our forecasts at the pretax profit level as Genting’s net profit has been skewed by a large RM266.9m positive minority interest caused by the losses recorded in Genting Singapore (GS) in 1Q10. No dividend was declared during the quarter.
Genting Berhad : Holding On To Market Share - 31/5/2010
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