Millennium & Copthorne 1H profit soars 93% on hotels, property developments

Thu, 30 Jul 2015

By Paul McBeth July 30 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, the hotel operator and property developer, boosted first-half profit by 93 percent as it lifted the performance of its hotel operations and its property developments turned profitable in the period. Net profit after minorities rose to $12 million, or 7.59 cents per share, in the six months ended June 30, from $6.2 million, or 1.4 cents, a year earlier, the Auckland-based company said in a statement. Revenue rose 4.5 percent to $70 million. The year-earlier...

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