Superbowl

Superbowl: 3Q13 net profit of $1.1m (-61.3% y/y) mainly due to the 65% decline from a lower share of profit of JV property development, and a 19% spike in labour costs from additional headcount and salary adjustments. Revenue improved 8% to $4.6m, driven by higher contribution from its bowling (+17%) and property rental (+6%) business segments. This was partially mitigated by the lower contribution to revenue from Funworld (-1%) and SuperCue (-14%) due to stiff competition from alternative home-gaming recreational facilities. NAV improved slightly by 1.4% to $0.353. Group expects labour market to remain tight, which may place upward pressure on its overall labour costs. Superbowl's hotel-cum-commercial complex at Zhongshan Park has been operational since May 2013, and is slated for its grand opening in 4Q13.