Revaluation gains lift Banyan's Q4 profit
Revenue down 6% as fee-based and hotel investment segments post lower sales
Nisha Ramchandani
Singapore
LIFTED by revaluation gains from its properties in Seychelles, resort operator Banyan Tree chalked up a 13 per cent year-on-year rise in net profit to S$4.13 million for the fourth quarter ended Dec 31, 2014.
Revenue fell 6 per cent to S$91.83 million as both its fee-based and hotel investments segments recorded lower revenue. This was partially offset by higher revenue from its property sales division.
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