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International Entertainment Corporation ( (HK:1009) ) has provided an announcement.
International Entertainment Corporation has issued a profit warning, indicating an anticipated loss of at least HK$90 million for the six months ending December 2024, a significant increase from the previous period’s loss of HK$36.1 million. Despite increased revenue and gross profit, the losses are attributed to rising general and administrative expenses, including staff costs and depreciation, as well as higher interest expenses related to the establishment and operation of a casino and integrated resort in Manila under a provisional license. Stakeholders are advised to exercise caution as financial results are finalized.
More about International Entertainment Corporation
International Entertainment Corporation, incorporated in the Cayman Islands, operates in the entertainment and gaming industry. The company focuses on managing casino operations and developing integrated resorts, particularly in Manila, Philippines.
YTD Price Performance: 39.51%
Average Trading Volume: 255,357
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: HK$1.55B
See more insights into 1009 stock on TipRanks’ Stock Analysis page.