Summary by Futu AI
Nagacorp's business continued to recover in the six months ended June 30, 2024, bringing impressive operational and financial performance to its shareholders. The group recorded a net loss of $1,000,000, mainly due to a non-cash impairment loss of $89,100,000 in the Vladivostok project. Excluding this impairment, the net profit of the company was $88,100,000. The group's revenue was $292,756,000, with a gross profit of $231,045,000 and a gross margin of 79%. The group's casino business revenue was $252,723,000, and the hotel and entertainment business revenue was $4,974,000. The group did not declare any interim dividend during this period. As of June 30, 2024, the group's total cash and bank balances amounted to $570,800,000. The group's leverage ratio was 5.1%. The group's capital commitments amounted to $3,136,601,000. The group's trade and other receivables were $25,322,000, and trade and other payables were $204,237,000. The group's outstanding bills were $472,155,000, which have been fully redeemed after maturity on July 6, 2024. The group's shareholder loans amounted to $70,000,000 and must be repaid on or before the second anniversary of the loan.
