Hotel Grand Central on Friday posted a 38 per cent fall in its full-year net profit to S$16.8 million, from S$27.2 million a year ago.
Total revenue for the year ended Dec 31, 2012 was S$160.6 million, down 4 per cent year-on-year, attributed to lower revenue contributions from the Singapore and New Zealand hotel operations.
The Orchard Road hotel has stopped operations for redevelopment since Aug 1 last year. The decrease in earnings was also due to the impairment loss on hotel building, as a result of the demolition of Hotel Grand Central Singapore.
A final scrip dividend of 5 cents per share was declared, unchanged from the previous year.
Hotel Grand Central reports 38% fall in FY12 net profit
No comments:
Post a Comment