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* PRESS RELEASE

(Hong Kong, 19 September 2008)

SJM Holdings Limited Announces Interim Results
for Six Months Ended 30 June 2008


Financial Highlights
 
30/6/2008
HK$millions
30/6/2007
HK$millions

%Change
  • Group Revenue
15,452.3
16,181.6

(4.5)
  • Adjusted EBITDA*
981.3
770.0
27.4
  • Profit attributable to equity holders
571.0
528.4
8.1
  • Earnings per share
15.2  cents
14.1 cents
7.8
       

* Earnings after adjustment for minority interest and before interest expense, tax, depreciation and amortization, other income, loss on disposal of assets, and development expenses.


  • Casino Grand Lisboa performed strongly in the first half with attributable revenue of HK$4,576.9m and adjusted EBITDA* of HK$810m, representing significant increases from the same period last year
  • Outfitting of the Grand Lisboa was substantially completed; the Company is currently in discussions with the Macau government regarding launch of the full facilities.   
  • Casino Ponte 16 held its grand opening on 1 February 2008; visited by over 1 million patrons during its first five months of operations; the Sofitel Macau at Ponte 16 and food and beverage outlets commenced operations in July and August 2008
  • Invitations were issued to leading international architectural firms to submit design concepts for the redevelopment of Hotel Lisboa and Casino Lisboa; selection of the  final design is scheduled for later this year

Speaking on the interim results, Dr. Stanley Ho, Chairman of SJM Holdings Limited, said, “In this first report to our shareholders since the Company’s listing on the Hong Kong Stock Exchange on 16 July 2008, I am very pleased to report that our earnings have exceeded our forecast for the period, and that the results from our flagship, the Grand Lisboa, are up dramatically from the same period last year. Our earnings growth took place despite increasing competition and tightened restrictions on travel to Macau from mainland China.“

Commenting on the Company’s prospects, Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, said, “We continue to move ahead with our plans to develop strategically located gaming centres that cater to different segments of the gaming market.  Progress is continuing on the conversion of the former site of New Yaohan department store into Oceanus, as well as on the development of L’Hermitage, the Company’s exclusive VIP casino.  Both are scheduled to open during the course of 2009.”

Further information on SJM Holdings Limited including the Company’s audited interim financial statements can be found on www.sjmholdings.com.



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