CityDev's M&C Hotels posts one-third fall in Q3 profit

Singapore

MILLENNIUM & Copthorne Hotels (M&C), the London-listed hotel arm of City Developments, has posted a 33.3 per cent drop in third-quarter group net profit to £24 million from £36 million a year ago.

Revenue fell 2.8 per cent to £211 million. Earnings per share slipped to 7.3 pence from 10.9 pence.