Millennium & Copthorne lifts annual profit 11%, on the back of CDL gains

Tue, 10 Feb 2015

By Suze Metherell Feb. 10 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, one of New Zealand’s largest hotel operators, has lifted annual profit 11 percent and its dividend after the property development business it controls, CDL Investments, reported its best earnings in seven years. Profit rose to $35.6 million in the year ended Dec. 31, from $32.2 million a year earlier, the Auckland-based hotel chain said in a statement. Revenue climbed 9.2 percent to $130 million. Earlier today, CDL, the land development company Mill...

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