Hong Kong-listed Genting said the expected loss is attributed to an absence of a one-off accounting gain of $1.57bn arising from the reclassification of the group’s investment in Norwegian Cruise Line Holdings (NCLH) in May 2015, and a gain of $599.6m arising from the disposals of certain stakes in NCLH in the first six months.
The loss was also due to one-time start-up and marketing costs for the launch of new Dream and Crystal cruise brands and products in 2016, and higher overall operating expenses as a result of the integration of the group’s recently acquired businesses.
Genting pointed out that the preliminary assessment of its latest unaudited financial results excluded the share of results of Travellers International Hotel Group, Inc, a joint venture between the group and Alliance Global Group, Inc.
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