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Banyan Tree back in the black for 1HFY2022, maintains goal to double footprint in three years

The Edge Singapore
The Edge Singapore8/9/2022 09:21 PM GMT+08  • 2 min read
Banyan Tree back in the black for 1HFY2022, maintains goal to double footprint in three years
Garrya Nijo Castle Kyoto (Japan), one of the latest additions to Banyan Tree's portfolio / Photo: Banya Tree
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Resorts operator Banyan Tree Holdings has reported earnings of $514,000 for 1HFY2022 ended June, reversing from a loss of $42.6 million in the year-earlier period.

The company reported a revenue of $118.6 million, up 110% y-o-y, as business improved with the pandemic easing and holiday makers back.

The company’s “core operating profit” in the same period was $11.1 million versus a loss of $4.8 million. This accounting line excludes one-off non-cash items such as gain on expiry of derivatives for convertible bonds, fair value loss and write-down of properties.

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