Hong Kong-listed Success Universe Group says it expects to report a consolidated profit of between HK$160 million and HK$190 million (US$20.4 million and US$24.3 million) for FY23, boosted by its share of income from its Macau integrated resort, Ponte 16.
The result would reverse a loss of HK$287.1 million (US$36.3 million) recorded in 2022, when the COVID-19 pandemic was still in full force.
In issuing a profit alert, Success Universe said it “shared a substantial profit of the associates relating to Ponte 16, the flagship investment project of the Group … while a loss of the associates of approximately HK$42.1 million (US$5.4 million) was shared by the Group for [2022].”
It also cited a substantial fair value gain on the group’s overseas listed equity securities versus a fair value loss of around HK$174.1 million (US$22.3 million) was recognized for the last corresponding year.
Final results of the group are expected to be published in late March, the company said.
Success Universe Executive Director and Deputy Chairman Hoffman Ma recently revealed that the company has submitted its Phase 3 development plan for the Inner Harbor resort to the Macau government, with an estimated cost of between HK$500 million (US$64 million) and HK$600 million (US$77 million).
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