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SJM Holdings Q3 disappoints

11/11/2013

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The third-quarter gaming revenue grew by 11.4 percent to HK$21.06 billion (US$2.72 billion), while EBITDA 8% to HK$2.04 billion. Profit increased by 10.3 percent to HK$1.8 billion. Results are ok, but the trouble comes from market share, which declined to 24.3% from 26% a year ago. That means competitors are growing at a faster pace, not a good sign. I will be watching the stock for possible selling opportunity. The long-term fundamentals are still sound, but if Mr. Market starts beating down the stock, I want to be out!
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