Stamford Land grows Q1 profit by 41% to $6.3 million
Stamford Land Corporation's first quarter net profit rose by 41.3 per cent to $6.3 million.
Revenue for the three months to June 30 was up 5.8 per cent at $64.4 million.
The hotel segment, which contributes the lion's share to group revenue, reported a 2.9 per cent drop in revenue to $51.9 million as a result of translation losses from lower exchange rates and lower revenue from its two Adelaide hotels.
This was partially offset by buoyant performance from our Sydney hotels.