Hotel Properties reported FY2015 earnings of $81.7 million, down 34.3% from $124.4 million the year before.
Revenue fell 5.7% to $579.5 million, hit by lower contributions from its properties division without sales from Tomlinson Heights condominium, which was completed in March 2014. The group also sold fewer units in The Met, Bangkok.
Ongoing refurbishment works at Four Seasons Resort Bali and the temporary closure of Holiday Inn at Vanuatu for repair works also affected hotel revenue.
It has launched two residential projects in London amid the current slowdown in residential property market in Singapore.
The group recommended a first and final dividend of four cents, and a special dividend of four cents a share. The group declared a final dividend of four cents and a special dividend of six cents a share in FY2014.
Hotel Properties ended 2.34% higher at $3.50.
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Revenue fell 5.7% to $579.5 million, hit by lower contributions from its properties division without sales from Tomlinson Heights condominium, which was completed in March 2014. The group also sold fewer units in The Met, Bangkok.
Ongoing refurbishment works at Four Seasons Resort Bali and the temporary closure of Holiday Inn at Vanuatu for repair works also affected hotel revenue.
It has launched two residential projects in London amid the current slowdown in residential property market in Singapore.
The group recommended a first and final dividend of four cents, and a special dividend of four cents a share. The group declared a final dividend of four cents and a special dividend of six cents a share in FY2014.
Hotel Properties ended 2.34% higher at $3.50.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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