Mainboard-listed luxury resorts operator, Banyan Tree, said that its first quarter net profit rose 2 per cent on-year to $5.34 million. The improved earnings was accompanied by a 9 percent hike in its revenue to $96.2 million.
Banyan Tree said the good showing was largely driven by its hotel investments segment. Higher revenue was seen mainly from its resorts in Thailand and China, which partially offset lower revenue from the Maldives.
Banyan Tree says the current political riots in Bangkok may result in slower pick-up in bookings compared to last year. It adds that its property sales in Thailand will also be significantly affected.
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