Success Universe expecting return to profit despite Ponte 16 woes

Success Universe Group Ltd, a 49% stakeholder in Macau integrated resort Ponte 16, says it expects to record a profit of between HK$3 million and HK$8 million (US$383,000 and US$1.0 million) for the year ended 31 December 2021, reversing a loss of HK$142 million (US$18.1 million) recorded in 2020.

In a profit warning issued overnight, Success Universe explained the improved result is primarily due to a fair value gain on the group’s overseas listed equity securities and on the group’s investment properties, while its share in losses recorded at Ponte 16 was also reduced compared with 2020.

The company had previously reported a HK$30.3 million (US$3.9 million) loss from its share in Ponte 16 for the six months to 30 June 2021, with an Adjusted EBITDA loss of HK$41.4 million (US$5.3 million).

Source: https://www.asgam.com/index.php/2022/03/16/success-universe-expecting-return-to-profit-despite-ponte-16-woes/