By Tapan Panchal
Hotel operator Mandarin Oriental International Ltd. (M04.SG)
Thursday reported a 20% fall in first-half net profit, primarily
due to challenging conditions in certain of its operating
markets.
"While Mandarin Oriental's full-year performance may be
influenced by challenging conditions in certain markets, the group
should continue to benefit from its strong competitive and
financial position," Chairman Ben Keswick said.
For the six months ended June 30, the company reported a net
profit attributable to shareholders of the company of US$45.6
million, down from US$56.8 million in the year-earlier period.
Revenue for the period totaled US$341 million against US$327.2
million.
Net asset value a share for the period rose 5% to US$0.99 from
US$0.94.
Mandarin Oriental has maintained its interim dividend payment at
2 cents a share.
Write to Tapan Panchal at tapan.panchal@wsj.com
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