Neptune’s fortunes rise

Junket room investor Neptune Group Ltd. announced in a filing to the Hong Kong Stock Exchange that its annual profits rose 26 percent in the financial year ended June 30 to HK$564.51 (US$72.79 million), up from HK$442.15 million in the previous year.  Rolling chip turnover at Neptune’s five associated junket operators with which it has profit sharing deals was significantly higher 

than its own turnover, which also rose by a third to HK$577.52 million.  Receivables for the company, which are mainly based on credit extended to its customers usually on a 30 day basis.  Neptune noted that 69 percent of the receivables were for accounts more than 90 days old, although the company did not record any impairment loss on receivables for 2012 or 2013.