Corporate digest

Mandarin Oriental

SOFTER demand in Hong Kong and Paris put a dent in the earnings of hotelier Mandarin Oriental as full-year net profit for 2015 slid 8 per cent from the previous year to US$89.3 million. Revenue for the 12 months ended Dec 31 declined to US$607.3 million, nearly 11 per cent lower than the US$679.9 million the year before.

The group said the contribution from Asia had fallen due to "softer demand in Hong Kong and Singapore, together with disruption from a renovation in Kuala Lumpur". Its showing in Europe was "affected by challenging conditions in Paris following the terrorist attacks and by the adverse impact of a renovation in Munich, which were only partially offset by improved results in London", it added.