Integrated gaming and entertainment hotel complex operator Naga Corp saw healthy growth of 14 per cent in its net profit for the six months ending on June 30, 2012. The company says it is satisfied with the results as all segments of the business experienced growth.
"The business growth and the volume growth has been satisfying, especially as the growth cuts across the board," says chief financial officer Philip Lee Wai-tuck.
Net profit increased to approximately US$52.4 million for the six months under review, compared with US$45.9 million last year. The company achieved this by registering higher business volume across all business segments and continuous improvement in operational efficiency.
Naga says that revenue increased by 18 per cent to approximately US$132.2 million for the six months ending on June 30, from US$111.8 million for the same period last year, while earnings per share were 2.52 US cents, an increase of 14 per cent compared with 2.21 US cents per share in the same period last year. Naga's board declared a dividend of 1.51 US cents per share for the period. These dividends will be paid on September 28, 2012, the company says.
Lee says the prospects for the growth of the integrated resorts and hotel look positive. He
points to tourist arrivals in Cambodia, which outpace worldwide tourism growth with a 26.8 per cent increase to 1.76 million visitors in the first six months of this year as compared with the same period last year. Tourist arrivals from Vietnam rose to 378,133, an increase of 30.5 per cent year-on-year. Laos and Thailand tourist arrivals saw year-on-year increases of 87 per cent and 90.8 per cent respectively, registering 103,233 visitors and 91,855 visitors respectively.
Tourist arrivals in Cambodia from the Indochina region accounted for 32.8 per cent of total tourist arrivals during the first six months. Vietnam accounted for 21.5 per cent of total tourist arrivals, representing the largest proportion of arrivals, according to Ministry of Tourism figures.