Agency revenues up 76 percent to June 30
Macau gaming operator Success Universe, which runs the Ponte 16 resort in the SAR’s peninsula district, will soon complete its acquisition of Jade Travel Ltd. of Canada. Success Universe already holds 75 percent of the agency and has reached an agreement to buy the remaining 25 percent from 1034635 BC Ltd. for around HK$8.2 million (US1.04 million).
For the first half of 2018, Jade Travel “achieved an encouraging performance with a revenue increase of approximately 76 percent, driven by the substantial growth of the wholesale segment and the stable revenue contributed by the retail segment,” the company said.
“Jade Travel Ltd also continued to work closely with leading regional and international online travel portals, including the most well-known and widely-used portals in the PRC for the penetration of its broad range of travel products.
“After completion, the group can consolidate its shareholding control of Jade Travel and will have greater flexibility in formulating business strategy, which will help to improve the value of the travel business of the group.”
Success Universe recently posted first-half profits of HK$14.2 million (US$1.81 million), a notable improvement on the loss of HK$23.3 million recorded in the same period in 2017.
