Echo announces big profit increase

Echo Entertainment’s share price has jumped 6% after announcing that it expects operating profit for the six months to 31 December 2014 to increase 23-31% to $245-260m. That puts the company on a forecast price-to-earnings ratio of around 15, which won’t be expensive if the performance of The Star keeps improving following its $1bn refurbishment. The International VIP business has had a record-breaking start to the financial year with turnover increasing 78% to $16bn and revenue also increasing 78% to $216m, or $231m based on the long term average win rate. Predicting future profits is perilous, though, as VIP profits...

Echo Entertainment’s share price has jumped 6% after announcing that it expects operating profit for the six months to 31 December 2014 to increase 23-31% to $245-260m. That puts the company on a forecast price-to-earnings ratio of around 15, which won’t be expensive if the performance of The Star keeps improving following its $1bn refurbishment.

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