Emperor Entertainment Hotel Ltd is expecting a reversal to profit in the fiscal year ending in March, mainly thanks to a 150 percent year-on-year jump in revenue.
The company currently runs six hotels and a serviced apartment collection in Hong Kong and Macau, namely The Emperor Hotel and three blocks of The Unit Serviced Apartments in Hong Kong, and Grand Emperor Hotel and Inn Hotel in Macau.
In a recent announcement to the Hong Kong Stock Exchange, Emperor’s board of directors of Emperor Entertainment Hotel Ltd provided an upbeat outlook for the company’s financial performance.
The company anticipates a net profit of no less than HK$50 million ($6.3 million) for the fiscal year ending on March 31, 2024, a notable reversal from the previous year’s net loss of HK$128 million ($16.3 million).
The Emperor Group will reveal its full fiscal Annual Results in late June 2024.
The company ended the first half of 2023 with HK$12 million ($1.5 million) in net profit, a turnaround from the HK$190.9 million ($24.4 million) in losses in the previous year.
