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Hotel Properties reports 32% rise in 3Q earnings to $42.2 mil

PC Lee
PC Lee11/13/2017 07:19 PM GMT+08  • 2 min read
Hotel Properties reports 32% rise in 3Q earnings to $42.2 mil
SINGAPORE (Nov 13): Hotel Properties reported 3Q earnings rose 31.5% to $42.2 million from $32.1 million a year ago.
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SINGAPORE (Nov 13): Hotel Properties reported 3Q earnings rose 31.5% to $42.2 million from $32.1 million a year ago.

Revenue rose 18% to $165 million from $140 million a year ago mainly due to the sale of completed condominium units from the Tomlinson Heights development as well as higher contribution from the group’s hotels and resorts, particularly those in Bali, Indonesia and the Maldives.

But cost of sales rose 16% to $124.6 million, resulting in a 24% rise in gross profit to $40.6 million.

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