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Hotel Properties' Q1 net profit rises 17.1%

Published on May 12, 2014 10:22 PM

HIGHER revenue from its hotels and property development helped developer Hotel Properties post stronger results for the first quarter on Monday.

Net profit came in at $44.6 million for the three months to Mar 31, up 17.1 per cent from $38.1 million in the same period a year ago.

Revenue was also higher at $214.5 million, rising 31 per cent from $163.8 million in the same period.

The firm said the increase was mostly thanks to stronger contributions from its resorts in the Maldives and higher revenue recognised from its project Tomlinson Heights.

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