Millennium & Copthorne first-half profit bolstered by CDL property developer

Fri, 04 Aug 2017

By Paul McBeth Aug. 4 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand eked out a 1.7 percent gain in first-half profit largely on a strong performance from the NZX-listed residential property developer CDL Investments, which the hotel operator controls. The Auckland-based hotel operator's net profit attributable to equity holders rose to $31.8 million, or 15.32 cents per share, in the six months ended June 30, from $29.7 million, or 15.04 cents, a year earlier, it said in a statement. The company's hotel business posted an 18...

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