KEY POINTS:
GuocoLeisure, formerly BIL International, has reported third-quarter net profit up 450 per cent to US$9.9 million ($13 million) from US$1.8 million a year earlier.
Revenue for the three months to the end of March was barely changed on US$109.4 million, but royalty income from the Bass Strait Oil Trust was up nearly 200 per cent to US$13.3 million from US$4.5 million.
For the nine months to the end of March net profit was up nearly 290 per cent to US$40 million, from US$10.3 million in the corresponding period a year earlier.
Revenue for the latest nine-month period was 30.3 per cent ahead at US$405.1 million.
That was due mainly to higher hotel revenues from both the group's Guoman and Thistle hotels, as well as higher sales of properties from operations in Denarau, Fiji, GuocoLeisure said.
A 40.4 per cent rise in other operation income to US$21.2 million for the nine months was attributable to higher management fees and other fees received in hotel operations.
Direct costs of raw materials and consumables rose 35.1 per cent in the nine months to US$214.2 million, generally due to a higher level of activity in the property development and hotel operation, and lower startup costs of gaming operations a year earlier.
GuocoLeisure is a 61 per cent controlled subsidiary of Hong Kong-based investment holding company Guoco Group, with its primary listing in Singapore, and secondary listings in this country and in London.
In New Zealand GuocoLeisure shares closed up 2c at 78c yesterday .
- NZPA
