CENTEL PROFIT SKYROCKETS
Central Plaza Hotel Plc (CENTEL) posted a record 462% increase in profit for the second-quarter over the same period last year.
Profit rose to 246 million baht in the quarter with revenues up 4.6 per cent year-on-year to 4.53 billion baht.
The company announced that hotel business revenues rose 9.8% year-on-year to 1.9 billion baht for the second quarter. Average occupancy also went up 7.3% to 76.6%.
Centel’s flagship Centara Grand hotels in Bangkok at Central World and Central Ladprao, saw revenues rise 41% and average occupancy increase 28.7%
year-on-year.
Central Plaza Hotel Plc (CENTEL) reported second-quarter profit of 246 million baht, a 462% increase from a year before, with revenue up 4.6% year-on-year to 4.53 billion baht, says chairman of the board Suthikiati Chirathivat.
The company announced that hotel business revenue rose 9.8% year-on-year to 1.9 billion baht for the second quarter, with achieved average occupancy up 7.3% to 76.6%. Centel’s flagship Centara Grand hotels in Bangkok at Central World and Central Ladprao, saw revenue rise 41% and average occupancy increase 28.7% year-on-year.
The food business posted revenue of 2.63 billion baht for the second quarter, up 1.2% from the same period last year. Same store sales fell 1% year-on-year, while total system sales increased 1.3%. KFC, Mister Donut, Auntie Anne’s and Ootoya accounted for 90% of total revenue for the food business segment. As of the end of June, Centel had 774 restaurants, with 52% located in Greater Bangkok.
For the first half, total profit reached 1.08 billion baht, almost double the 544 million profit posted the same period in 2014. Consolidated revenue for the first half was 9.69 billion baht, a 4.6% rise year-on-year.
By segment, Centel’s hotel business revenue was 4.63 billion baht in the first half, up 14.1% year-on-year, while food business totalled 4.9 billion, up 3.2%.
Average occupancy in the first half was 81.1%, a rise of 9.1 percentage points from the same period in 2014. Total revenue for the company’s Centara Grand hotels in Bangkok rose 59% year-on-year in the first half, and accounted for 29% of total hotel business revenue.
The food business posted negative samestore sales of -0.1% in the first half compared with the same period last year, with total system sales growth of 3.3% for the same period.
CENTEL shares closed on Friday on the SET at 36.75 baht, down 50 satang, in trade worth 42.5 million baht. Over the past 12 months, the stock has declined 2.65%, compared with an 8.75% decline in the broader SET index.