Success Universe projects HK$3m-HK$8m profit for 2021

| By Marese O'Hagan
Tourism and property investment business Success Universe has projected its profit to be between HK$3m and HK$8m (£292,828-£781,056/€348,804-€930,114) for 2021, but said a full recovery may still take time.

If met at its highest point, this profit could see an improvement of HK$150m from the loss of $142m in the company’s full year 2020 results.

Success Universe attributed this profit to fair value gain on its overseas listed equity securities and its investment properties, as well as a decrease in the company’s share of losses from its flagship investment project Ponte 16.

Success Universe owns a 49% stake in the Ponte 16 Resort, through a partnership with SJM Holdings, which operates the resort.

Yeung Hoi Sing Sonny, chairman of Success Universe, praised the positive profit estimation and attributed it to the Success Universe management and staff.

“The global situation in 2021 was complicated and full of changes,” said Yeung. “I am very grateful to the management and all the staff for their efforts in their positions to overcome challenges.”

He continued by encouraging caution in relation to a full financial recovery of the company, in the wake of the Covid-19 pandemic.

“Facing the evolving coronavirus pandemic and the rising geopolitical tensions around the world, a full economic recovery may still take time,” continued Yeung.

“The group will remain cautious and prudent towards the formulation and implementation of corporate strategies to cope with the everchanging market and prepare for the recovery.”

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