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Mandarin Oriental 1H17 earnings fall 34% to US$15 mil due to London property renovation works

Michelle Zhu
Michelle Zhu8/3/2017 5:30 PM GMT+08  • 2 min read
Mandarin Oriental 1H17 earnings fall 34% to US$15 mil due to London property renovation works
SINGAPORE (Aug 3): Mandarin Oriental, a member of the Jardine Group, posted a 34% decrease in 1H17 earnings to US$15 million ($20.4 million) compared to US$22.9 million a year ago, due to the renovation of its London property.
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SINGAPORE (Aug 3): Mandarin Oriental, a member of the Jardine Group, posted a 34% decrease in 1H17 earnings to US$15 million ($20.4 million) compared to US$22.9 million a year ago, due to the renovation of its London property.

The group’s earnings per share (EPS) for the half year was 1.19 US cents, down 35% from 1.82 cents in the previous year.

While revenue for the half year came in marginally higher at US$644.8 million from US$643.8 million in the previous year, buoyed by higher contributions from the revenue from the Americas, this was more than offset by the impact of the ongoing phased renovation the London property.

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