Banyan Tree Q1 profit down 72% on lower other income

SINGAPORE-BASED leisure and hospitality company Banyan Tree Holdings posted a 72 per cent decline in net profit for the first quarter to $4 million, compared to the $14.2 million it made during the same period last year.

Revenue for the three months ended March 31 slid 3 per cent to $93.9 million, compared to the $96.9 million it earned last year. "Other income decreased by $16.5 million from $18.1 million in 1Q13 to $1.6 million in 1Q14 as other income in 1Q13 included gain on sale of Angsana Velavaru hotel," said Banyan. Earnings p…