Bombings take toll on BIL result

BIL International's profit for the year to June fell 55 per cent to US$38.9 million ($61.3 million).

The previous year's result had been boosted by a gain of US$52.7 million from the sale and leaseback of six hotels, the Singapore-based company said yesterday. Revenue for the 12 months to June was down 2.9 per cent at US$333.4 million, a result of the timing of project settlements in the group's property development segment.

BIL's main investment is the largely London-based Thistle Hotel group and the company said last year's London bombings had a negative effect on occupancy and average room rate in the first half of the year.

Earnings per share were down from US6.3c to US2.9c.