In its filing to Bursa Malaysia on Tuesday, Nov 9, the group's profit before tax (PBT) for the nine months of 2010 rose by 86% to RM71.6 million compared with RM38.5 million last year.
“It was largely boosted by substantially higher revenue and profit contributions from Shangri-La Hotel Kuala Lumpur and Golden Sands Resort in Penang, after completion of extensive renovations to their guestrooms and facilities in late 2009,” the company said.
Basic earnings per share for the quarter rose to 5.34 sen compared with 2.87 sen a year ago.
The group expects its hotels and resorts to continue to fare well during the remaining months of 2010 as they are in a good position to benefit from the expected continuing recovery in demand from both the business and leisure travel markets.
It also expects its financial results for the whole of 2010 to improve significantly, and expects better operating performances of Shangri-La Hotel Kuala Lumpur and Golden Sands Resort following the completion of their respective renovation works.
TOP PICKS BY EDGEPROP
3 Storey Luxury Semi D @ Forest Reserved Ampang
[RENTAL GET RM 3000 READY TENANT 2020 NEW PROJECT]
3 Sty 22x75, Bandar Bukit Tinggi, Renovated
Double Storey Terrace, Alam Sari, Bangi
Corner unit of 3 Storey Semi-Detached House
Ulu Kelang, Selangor
Ukay perdana sierra hijauan ampang semi d
Welcome Investor, Confirm Rental Beside Famous Uni
Double Story Corner Lot Taman Warisan Putra Fasa 2
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
[270K HOT SELLING INVESTMENT PASSIVE INCOME 2R+2B]