Global Premium Hotels' Q4 earnings up 20.1%

DESPITE a 1.4 per cent dip in revenue to $14.96 million, Global Premium Hotels ended its fourth quarter last year with a 20.1 per cent rise in net profit to $5.2 million.

Among factors contributing to the higher earnings was a 28.7 per cent decrease in income tax after recognising a corporate income tax rebate.

Global Premium Hotels paid $0.77 million in taxes for Q4, down from $1.1 million in the same period last year. A respective $0.2 million decrease in administrative expenses and finance costs also contributed to higher profits.