News Formal

CDL warns hotel business to post $120-$140 million half-year pre-tax loss

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

SINGAPORE (THE BUSINESS TIMES) - City Developments Limited (CDL) on Monday (July 13) said it expects the group's pre-tax profit for the first half this year to reduce 'substantially' from a year ago, dragged down by its hotel operations segment amid the coronavirus pandemic.. Read more at straitstimes.com.

SINGAPORE - City Developments Limited on Monday said it expects the group's pre-tax profit for the first half this year to reduce"substantially" from a year ago, dragged down by its hotel operations segment amid the coronavirus pandemic.

In addition, many countries have imposed measures such as quarantines, strict social distancing and complete lockdowns of cities, which have adversely affected the group's hotel operations, even with the receipt of government grants. Meanwhile, the group's property development segment is expected to see revenue declining about 10 per cent as the H1 2020 contributions will primarily be derived from projects including The Tapestry, Whistler Grand as well as Amber Park, compared with fully completed projects such as New Futura and Gramercy Park that yielded higher profit margins in the year-ago period.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CDL warns hotel business may post $120-$140 million half-year pre-tax lossSINGAPORE (THE BUSINESS TIMES) - City Developments Limited (CDL) on Monday (July 13) said it expects the group's pre-tax profit for the first half this year to reduce 'substantially' from a year ago, dragged down by its hotel operations segment amid the coronavirus pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Stocks to watch: CDL, SATS, ART, Singtel, Cromwell E-Reit, OCBC, SembmarineTHE following companies saw new developments that may affect trading of their securities on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

CDL warns hotel business may post $120-$140 million half-year pre-tax lossSINGAPORE (THE BUSINESS TIMES) - City Developments Limited (CDL) on Monday (July 13) said it expects the group's pre-tax profit for the first half this year to reduce 'substantially' from a year ago, dragged down by its hotel operations segment amid the coronavirus pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »