Tax writeback boosts Global Premium's Q4
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Singapore
GLOBAL Premium Hotels undid previous years' over-provisioning for taxes in the fourth quarter, helping the hotel developer to post a 61 per cent gain in net profit despite a slowdown at an operational level.
Global Premium, which runs the Fragrance chain of economy hotels, reported net profit of S$8.4 million, or 0.80 cents per share, for the three months ended December.
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