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Hotel Royal's 3Q earnings up 29% to $2.9 mil on higher sales and lower tax expenses

PC Lee
PC Lee11/10/2017 8:0 PM GMT+08  • 1 min read
Hotel Royal's 3Q earnings up 29% to $2.9 mil on higher sales and lower tax expenses
SINGAPORE (Nov 10): Hotel Royal reported 3Q earnings rose 29.3% to $2.9 million, or  3.44 cents per share, on higher revenue and lower tax expenses.
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SINGAPORE (Nov 10): Hotel Royal reported 3Q earnings rose 29.3% to $2.9 million, or 3.44 cents per share, on higher revenue and lower tax expenses.

Revenue was 4% higher at $15.7 million mainly due to higher contribution by Hotel Royal [email protected] which resulted from higher room revenue and higher food and beverage sales. In tandem with higher revenue, cost of sales rose 8.2% to $7.1 million.

Income tax expenses, however, fell 51.7% to $526,000 from $1.1 million a year ago.

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