GuocoLeisure first-quarter profit falls 29 percent on hiring, year-earlier gains

GuocoLeisure first-quarter profit falls 29 percent  on hiring, year-earlier gains
Oct. 29 (BusinessDesk) - GuocoLeisure, the diversified investment company once known as Brierley Investments, posted a 29 percent drop in first-quarter profit on costs for its hotel rebranding strategy. Profit fell to US$16.4 million in the three months ended Sept. 30, from US$23.2 million a year earlier, the Singapore-based company said in a statement. Revenue rose 3.2 percent to $107.8 million, though this was more than offset by increases in costs of wages, raw materials and other expenses. GuocoLeisure said personnel expenses jumped 21 p...