BERLIN (dpa-AFX) - Hong Kong-based Galaxy Entertainment Group Limited (GXYEF.PK, GXYEY.PK) reported Wednesday that its fiscal 2017 net profit attributable to shareholders was HK$10.5 billion, an increase of 67% year-on-year including HK$0.5 billion of non-recurring charges.
Adjusted attributable net profit was HK$11.0 billion, up 61% year-on-year.
Full-year Group Adjusted EBITDA increased 37% from last year to HK$14.1 billion. In the fourth quarter, adjusted EBITDA increased 40% to HK$4.2 billion.
Group revenue climbed 18% year-on-year to HK$62.5 billion.
Looking ahead, Lui Che Woo, Chairman of GEG said, 'I am confident in the medium to longer term outlook for Macau and this confidence is based upon the continued solid economic performance of Mainland China and the significantly underpenetrated tourist markets in China and Asia. Additionally, the opening of new properties in Macau in 2018 and the launch of the Hong Kong-Zhuhai-Macau Bridge should stimulate growth in the shorter term period.'
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