Summary by Moomoo AI
Nagacorp Corporation warns that it is expected to record a net profit attributable to owners of between $3.1 million and a loss of $6.9 million in the first half of 2024, a significant decrease compared to the net profit of $83 million in the same period in 2023. This profit warning is mainly due to the expected impairment of its casino and resort project in Vladivostok, Russia, which is estimated to be reduced by about $85 million to $95 million. This impairment has not yet been realized and does not affect operating cash flow. The company emphasizes that its overall financial condition is stable and reminds shareholders and potential investors not to overly rely on preliminary assessment data. The final performance will be announced before the end of August 2024.
