HPL's full-year earnings up 37%

HOTEL Properties Limited's (HPL) net profit for the 12 months ended Dec 31, 2013, jumped nearly 37 per cent year-on-year to $177.64 million.

Revenue rose 27.5 per cent to $691.96 million, on the back of income recognition from the Tomlinson Heights condominium development on a percentage of completion basis as well as better performances by the group's hotels and resorts.

Earnings per share were 33.19 cents for the full year, up from 25.64 cents in the previous financial year.