Millennium & Copthorne Hotels' profit falls; no special dividend

[LONDON] Millennium & Copthorne Hotels Plc said it would not pay a special dividend after posting a 36.3 per cent fall in full-year profit.

Pretax profit fell to 188 million pounds (S$388 million) in the year ended Dec. 31 from 295 million pounds a year earlier.

Revenue at the company, which operates the Millennium, Grand Millennium, Copthorne and Kingsgate hotels, fell 22.4 per cent to 826 million pounds.

The company's profit a year earlier was boosted by the sale of Glyndebourne condominium development in Singapore, it said.

REUTERS