Hotel Properties net profit for 2Q up 74.1%

SINGAPORE - Hotel Properties' net profit rose 74.1 per cent to S$12.2 million, as revenues jumped 34.3 per cent to S$163.8 million in the second quarter.

The rosier results were due to the sale of completed condominium units at the Tomlinson Heights development.

The hospitality group said that challenging conditions remain in its key markets, with uncertainties in economic and political environments.

Earnings per share for the quarter was 1.9 cents, up from 0.91 cent previously.

Net asset value per share was S$3.22 as at June 30, down from S$3.28 as at Dec 31 last year.

kohping@sph.com.sg