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JMHLY Jardine Matheson Holdings Ltd (PK)

36.52
-0.06 (-0.16%)
13 Sep 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Jardine Matheson Holdings Ltd (PK) USOTC:JMHLY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.06 -0.16% 36.52 36.27 36.79 36.80 36.27 36.50 20,032 21:00:47

Mandarin Oriental 1st Half Profit Falls Amid Challenging Hotel Market

31/07/2014 10:50am

Dow Jones News


Jardine Matheson (PK) (USOTC:JMHLY)
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By Rory Gallivan

LONDON--Hotel group Mandarin Oriental International Ltd. (M04.SG) Thursday reported a fall in interim net profit and said its full year performance may be influenced by challenging conditions in Thailand and other markets.

Net profit for the half year ended June 30 fell 15% from the previous year to $45.6 million from $56.8 million and revenue was up 1% to $671.4 million.

"The results of the hotel in Bangkok were negatively impacted by the ongoing political uncertainty, and there were weaker performances in Jakarta and Manila," the company said.

"In Europe, further progress was made in the Paris hotel, which together with an improved performance in Geneva offset softer demand in London and Munich," it continued, adding that the results in the U.S. were affected by lower demand in Washington DC following a strong performance the previous year due to President Obama's Inauguration.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

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