Profits at Stanley Ho’s Shun Tak holding rise 82 percent in 2006 [ 2007-04-19 ]

Profits at Stanley Ho’s Shun Tak holding rise 82 percent in 2006 [ 2007-04-19 ]


Macau, China, 19 April – Shun Tak, the holding company of Macau gaming and gambling magnate Stanley Ho, in 2006 posted profit of 663.9 million Hong Kong dollars, or a year on year rise of 82 percent, the company said.

The rise in the profits of the holding company, which operates in the navigation and real estate sectors, amongst others, were driven not only by growth in the number of passengers transported on the company’s ships, but also by real estate sales in Macau.

In 2005, Shun Tak posted net profit of 364.4 million Hong Kong dollars.

In the sea transport sector, Turbo Jet, a subsidiary company operating 32 ferries between Hong Kong, Macau and Shezhen saw a rise of around 26 percent to 236.7 million Hong Kong dollars in operating profits generated by 12.5 million passengers in 2006 – 11 million of which between Hong Kong and Macau – or 13 percent more than in 2005.

Real estate generated profits of over 320 million Hong Kong dollars and investments - which also include gaming and gambling – posted profit of over 100 million Hong Kong dollars. (macauhub)