November 29, 2012 / 11:36 AM / 5 years ago

Malaysia's Genting says Q3 net profit down 45 pct

KUALA LUMPUR, Nov 29 (Reuters) - Malaysia’s Genting Bhd said on Thursday its net profit for the third quarter ended Sept. 30 fell 45 percent to 190.3 million ringgit from 347.1 million ringgit the same quarter a year ago.

The gaming-to-power group said the weaker performance stemmed mainly from impairment losses as well as higher depreciation costs.

Genting said revenue dropped to 1.943 billion ringgit from 2.316 billion ringgit a year earlier.

The company’s shares closed 2 percent lower at 8.82 ringgit a share on Thursday, compared with the broader market’s 0.05 percent rise. (Reporting By Siva Sithraputhran)

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