Crown Resorts posts flat 1HFY19 profit

Company News

by Anna Napoli

Crown Resorts has announced its half year results for FY19 with net profit (attributable to members of the Parent) lifting ever so slightly by 0.9 per cent to $194 million compared to the year earlier period.

The result reflects a decline in VIP program play turnover across Crown’s Australian resorts.

 Revenue from operations fell 7.3 per cent to 1.48 billion.

Earnings (Normalised EBITDA) decreased by 6.5 per cent to $419 million.

Net operating cash flow for the period of $382.3 million compared to net operating cash flow of $368.5 million in the pcp.

The company declared an interim dividend of 30 cents per share franked 60 per cent franked payable on 4 April 2019.

The Executive Chairman of Crown, Mr John Alexander, says Crown’s Australian operations’ first half result reflected mixed trading conditions.

Shares in Crown Resorts (ASX:CWN) Shares are trading 4.51 per cent lower to $11.65.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.