Hotel Properties' Q3 profit jumps 90%

HOTEL Properties' net profit for the third quarter rocketed 90 per cent to S$32.1 million from the year-ago period, the group said in a Singapore Exchange filing on Thursday. Revenue for the three months ended Sept 30, 2016, grew 5 per cent year on year to S$140 million.

The increase was mainly due to the sale of completed condominium units at the Tomlinson Heights development, partially offset by weaker performance by the group's resorts in the Maldives, it said.

Earnings per share jumped to 5.73 Singapore cents from 2.81 Singapore cents in the year-ago period.