Millennium & Copthorne NZ first-half profit jumps 98% on tourist boom, CDL

Wed, 03 Aug 2016

By Jonathan Underhill Aug. 3 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, which owns a portfolio of hotels and a controlling stake in property developer CDL Investments, posted a 98 percent jump in first-half profit as it benefited from the nation's tourism boom, strong sales from CDL and a one-time insurance gain. Its shares jumped 11 percent. Profit attributable to shareholders of the parent company almost doubled to $23.8 million in the six months ended June 30, from $12 million a year earlier, the Auckland-based company...

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