NagaCorp soars back to profit in 1H22, resumes dividend payments

Hong Kong-listed NagaCorp Ltd has reported a net profit of US$52.7 million for the six months to 30 June 2022, reversing a US$77.2 million loss recorded a year earlier on the back of higher business volumes across all business segments at its Cambodian integrated resort, NagaWorld.

According to information filed overnight, average daily business volumes in the lucrative mass and premium mass segments have recovered to 80.3% and 71.8% of 2019 levels respectively since Cambodia eased COVID-19 restrictions, while all segments also showed sequential growth in 2Q22 when compared with the March 2022 quarter.

As a result, NagaCorp reported US$130.1 million in EBITDA for the first six months of this year, up from US$4.5 million in 1H21.

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