Guoco Leisure profit drops on higher costs

Guoco Leisure first-quarter profit fell 29.2 percent to US$16.5 million on the costs of rebranding its hotels and other higher operating expenses. Revenue in the three months to end-September rose 3.2 percent to $107.8 million. 

The company is made up of four divisions. Guoman Hotels manages hotels in the UK and Malaysia under the Guoman and Thistle brands; the gaming division operates London's Clermont Club; the oil & gas division gets royalties from the Bass Strait Oil Trust; and the property division owns the 54,677 acre Molokai Properties on the island of Molokai in Hawaii and Tabua Investments in Fiji.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts