AMTD IDEA Group announced its unaudited financial results for the six months ended June 30, 2024, reporting revenue of US$35.9 million. This represents a change from US$109.1 million recorded in the comparable period of 2023, primarily due to one-off divestment gains in 2023 and a change in revenue mix.
The company's hotel operations, hospitality, and VIP services income rose significantly by 85.2% to US$7.9 million for the six months ended June 30, 2024, compared to US$4.3 million in the same period of 2023. Other income and gains remained relatively steady at US$37.5 million, primarily from disposal gains, bank interest, and interest from its immediate holding company.
Profit for the six months ended June 30, 2024, decreased by 63.2% to US$42.0 million compared to the same period in 2023. Other operating expenses increased by 51.9% to US$16.9 million, mainly due to additional hotel depreciation and increased operation expenses for L'Officiel and The Art Newspaper businesses, while staff costs decreased by 38.0% to US$6.4 million due to disposal of operations.
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