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Published Fri, Oct 23, 2020 · 09:50 PM

GL Limited

GL LIMITED, a UK hotel sector player, recorded an unaudited net loss of US$22.5 million for its first quarter ended Sept 30 - reversing from a net profit of US$12 million for the year-ago quarter - on the back of the Covid-19 outbreak.

In a business update, the group said its revenue fell by 91 per cent to US$9 million. With Covid-19 continuing to dampen demand for hotel rooms and business activity in London, the company's financial performance has taken a hit.

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