James Packer’s Crown Resorts Ltd
(ASX:CWN) has reported that its normalised net profit (after tax) fell 22.7% to $406.2 million in the 2016 financial year.
The company says its results a “solid performance” from its Australian operations and “continued subdued trading in Macau”.
However, Crown did make a net gain of $555.2 million from selling the stake in its Macau casino business, Melco Crown. As a result, Crown’s ownership in this joint venture is now 27.3% (which down from 37.3%).
As for its local Australian casinos, Crown earned $3.23 billion in revenue, which is an increase of 0.8%.
Crown declared final dividend of 39.5 cents per share. And its total full year dividend is 72.5 cents per share.
