Exceeding consensus expectations. Genting Singapore’s (GS) 1QFY10 core net profit of S$81.8m was in line with our forecasts, comprising 25.7% of our full year core net profit, but above consensus, comprising 36.4% of FY10 net profit. GS’ EI loss of S$452.6m included impairment loss on its UK intangible assets of S$478.1m, impairment loss on amount due from jointly controlled entity of S$2.27m offset by fair value gain on derivatives of S$27.8m.
Genting Singapore Plc :Exceeding Consensus Expectations -14/05/2010
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