China: Profit at Shun Tak Holdings rises 52.7 pct in 2007

9 April 2008

Macau, China, 9 April – Shun Tak, the holding company of Macau gaming and gambling magnate Stanely Ho, said Tuesday that in 2007 it had posted a net profit of 1 billion Hong Kong dollars (US$125 million), which was a rise of 52.7 percent against 2006, a year in which profit totalled US$664 million.

Shun Tak, which has interests in the sea and air transport, hotel and real estate sectors, also said that the number of passengers carried on the Hong Kong-Macau route was 14 million, which was a year-on-year rise of 15 percent.

In 2007 Macau received 27 million tourists, which was a rise of 22.7 percent on 2006.

Shun Tak’s transport division posted a profit of 259.19 million Hong Kong dollars, which was a rise of 9.5 percent against 2006.

Shun Tak has a 15.8 percents take in Sociedade de Turismo e Diversões de Macau (STDM) which owns 80 percent of Sociedade de Jogos de Macau (SJM) which controls 19 of the 29 casinos in Macau.

At the beginning of the month SJM announced profits of 1.8 billion patacas in 2007 (US$225 million), which was a fall of 20 percent against 2006. (macauhub)