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SMR
05-13-2015, 04:45 PM
GuocoLeisure Limited is a Singapore-based holding company of an international hospitality and leisure group. The Company has a portfolio of 36 hotels in the United Kingdom and two hotels in Malaysia under the Guoman and Thistle brands. The Company operates in five segments: oil and gas, property development, hotels, gaming and others. Oil and gas segment receives royalty income from the entitlement of Brass Strait Oil Trust in Australia. Property development segment is engaged in development of Land properties on Fijian and Hawaiian island for sale. Hotels segment owns, leases or manages the hotels in the United Kingdom. Gaming segment engages in the casino betting operations in the United Kingdom. Others segment covers equity and direct investments, as well as treasury operations.

Official website: www.guocoleisure.com

SMR
05-13-2015, 04:46 PM
GuocoLeisure announced a 19.7 percent increase in 9M15 net profit to US$35.8 million. While revenue decreased 8.9 percent to US$278 million due to lower revenue generated from both gaming and property development segments, the company implemented a new management model at hotel operations which resulted in cost savings of 10.6 percent in personnel expenses. Finance cost also decreased US$5.7 million as a result of the term loan refinancing in December 2014. The group recently launched two hotels during the financial year. Refurbishment of hotels is expected to continue over the next 12 months, and the rooms not available for sale is expected to impact performance. The group has also reached an agreement to cease management of 19 regional Thistle Hotels and the handover is expected to take place in the third quarter of 2015.

Source: Shares Investment (http://www.sharesinv.com/)