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Genting reported FY2010 profit of $657.2mn
However, earnings in the 4Q of last year were 50% q-o-q lower.
According to Phillip Securities Research, Genting Singapore's earnings of $91.6 million in 4Q10 were drastically lower than profits of $182 million in 3Q10. However, this was due to several one-off items.
Genting Singapore’s FY10 revenue of S$2.75 billion was spectacular versus previous year revenue of S$49.5 million. 4Q10 revenue of S$788.5 million was 6% higher sequentially. Management reported higher revenues from all business segments.
Company wide, FY10 adjusted EBITDA was S$1.42 billion which represents EBITDA margin of 51.65%. The resort is able to churn an average 47.2% in EBITDA margin quarterly.
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