Shares of Star Entertainment have surged over 7% higher to reach a two-month high of $5.45 in early trade.
The company released full-year results this morning which showed underlying profits rose 20% to $258 million versus the street’s estimate of $248 million.
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Much of increase was focused on foreign “high rollers” which lifted SGR’s turnover by 54% to $61 billion.
We see chart resistance at $5.50 over the medium-term.
SGR goes ex-dividend for 13 cents on August 28th.
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