Banyan Tree plans luxury homes for elderly

Singapore

MAINBOARD-LISTED Banyan Tree Holdings said it planned to offer luxury homes to the elderly in markets such as China, expanding into the nascent wellness sector.

This comes as the luxury resorts operator posted on Wednesday a Q4 net profit of S$8.4 million, reversing from a net loss of S$18.4 million a year ago for the three months ended Dec 31, 2016. Earnings per share for the quarter was 1.11 Singapore cents, up from a loss of 2.41 Singapore cents per share for the same period the year before.