HPL Q1 net profit rises 12.1% to S$16.1m

PROPERTY group Hotel Properties Ltd (HPL) lifted first-quarter net profit by 12.1 per cent to S$16.1 million from the previous year, it said in a Singapore Exchange filing on Friday evening.

For the three months ended March 31, revenue crept up 0.8 per cent to S$144.8 million from the year-ago period. This was mainly due to contributions from its newly acquired The Boathouse, Phuket and from its newly refurbished Four Seasons Resort Bali at Jimbaran Bay and Four Seasons Resort Maldives at Kuda Huraa, it said.

Earnings per share for the quarter grew to 2.65 Singapore cents from 2.32 Singapore cents in the previous year.

HPL shares closed S$0.01 or 0.3 per cent up at S$3.98 on Friday before the results.