Bonvests profit surges to $56.2m on stronger revenue, revaluation gains
HOTEL and property group Bonvests Holdings' net profit attributable to equity-holders more than doubled to $56.23 million for the year ended Dec 31, from the preceding year's $24.6 million. This came on the back of stronger revenue and revaluation gains on its investment properties.
Revenue for last year rose 11.5 per cent to $183.97 million, as the increase in contributions from the hotel and industrial divisions partly offset lower contributions from the property-rental and investment division.
Revaluation gains from investment properties leapt more than four-fold to $35.75 million from $8.4 million.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses
Exxon misses on Q1 profit despite big gains in Guyana
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
Chevron's quarterly profit beats estimates