M&C posts 11.6% drop in Q2 profit to £38m

Singapore

MILLENNIUM & Copthorne Hotels (M&C), the London-listed hotel arm of Singapore's City Developments Limited, posted an 11.6 per cent drop in profit before tax to £38 million (S$68 million) in its second quarter, while revenue inched up 5.1 per cent from £215 million to £226 million.

For the quarter under review, revenue per available room (RevPAR) in constant currency dipped 3.7 per cent, from £78.71 to £75.80.