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Hotel Properties is back in the black with S$11.4 million H1 profit
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Hotel Properties (HPL) reported a net profit of S$11.4 million for H1 2024, recovering from a loss of S$4.9 million in the same period last year. Revenue increased by 9% to S$378.4 million, driven by the opening of Four Seasons Hotel Osaka. Gross profit rose to S$85.2 million, while earnings per share improved to S$0.0134. However, the group faced a mark-to-market loss of S$9.3 million on long-term investments and a rise in finance costs to S$51 million. Administrative expenses also increased due to new hotel openings.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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