James Packer's casino operator Crown has lifted its first half profit almost 30 per cent thanks to a strong performance from its Macau business.
Crown made a normalised after tax profit of $315 million for the six months to December 31, up from $243 million a year ago.
It more than doubled its statutory net profit, which includes one-off items, to $382.5 million, from $181 million.
That figure was skewed by a $75 million loss on the sale of the company's stake in rival Echo Entertainment during the prior period.
Normalised profit from Crown's stake in Macau's Melco Crown entertainment more than doubled to $140.6 million during the half, thanks to strong growth in its VIP gaming and mass market segments.
The result offset a soft performance from Crown Melbourne, which saw its normalised earnings slide 4.6 per cent to $278.5 million due, in part, to a higher-than-expected win rate.
A higher win rate also contributed to a 4.1 per cent slide in earnings from Crown Perth to $118 million during the half.
Chief executive Rowen Craigie said the two Australian resorts had been affected by weak consumer sentiment.
"Overall, we have seen weak consumer sentiment that has adversely impacted trading at both Crown Melbourne and Crown Perth," he said.
"The results for those resorts were below expectations and reflect the fact that their local economies are experiencing structural and cyclical challenges."
Crown announced a 50 per cent franked interim dividend of 18 cents per share, unchanged from a year ago.
Shares in Crown were down 73 cents, or 4.24 per cent, to $16.50 at 1021 AEDT.
