LCD Global back in the black with S$10m net in Q2

Singapore

LCD Global Investments swung to profitability in the second quarter ended Dec 31, 2014, thanks to its associated and joint venture companies.

The hospitality player inked a net profit of S$9.98 million in the second quarter, from a net loss of S$209,000 in the year-ago period. But revenue slipped 6 per cent to S$13.97 million during the quarter due to weaker performance at its serviced residence in Vientiane, Laos and the closure of three entertainment outlets in Singapore.

Its share of associated and joint venture results surged to S$10.68 million in the quarter, up from S$632,000 a year ago. LCD's share of results of Knight Frank Pte Ltd, however, was lower as fewer transactions were closed by its industrial property and international property divisions during the quarter.

Shares of LCD Global closed unchanged at 32.5 cents on Friday.