Genting HK

Genting HK: Annouced1H11 results which was in-line.
1H11 rev at US$227.0m, +22.9% yoy, while net profit at US$61.8m, +445.6% yoy. Contribution from Travellers was US$25.7m (within expectation, expect 2H11 to be stronger as the gaming operations grow), while contribution from NCL was US$12.3m (looks low vs FY10 of about US$70m, but expect 2H11 to be much stronger, as it was traditionally)

Kim Eng remains wary of how the potential economic turmoil may affect its cruise business. Conference call is at 10am today and we will follow up with more information after.