Success Universe forecasts H1 profit jump

Macau, Ponte 16
Macau, Ponte

Success Universe, an investor in Macau’s Ponte 16 resort, said it expects its group profit for the six months to end-June to be about two to three times the level of the prior year.

In a statement to the Hong Kong Stock Exchange, it said profit in the same period of 2018 was HK$14.2 million ($1.8 million). 

The group said the increase came mainly from its share of the profits from Ponte 16, its flagship project. Success Universe teamed with SJM Holdings on the project and has a 49 percent stake. 

The company said the gains come despite a decrease in fair value gain on some of its investment properties. It gave no further details. 

Its full results will be released in late August.