Mandarin Oriental records $71m profit
Mandarin Oriental International, which operates the Elbow Beach Hotel, made an underlying profit of $71 million in 2012.
The company has reported its preliminary full year results, showing a 20 percent increase with underlying earnings of $175 million before tax, depreciation and amortisation, up from $165 million the previous year.
Company directors have recommended a final dividend of five cents per share, bringing the total dividend for the year to seven cents.
Mandarin Oriental said its hotels in Asia and Europe performed well during the past year, however, in the Americas there were varied performances by individual hotels “amidst a climate of political and economic uncertainty”.
The group currently operates 28 hotels worldwide, two more than a year ago, and has a further 16 hotels under development.
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