GL posts 52% earnings decline in 1H17 on lower sales

SINGAPORE (Jan 19): GL has reported earnings of US$24.6 million ($35 million) for 1H17, a 52% decrease from the US$51.3 million earnings in 1H16.

GL is the investment holding company with several well-known brands in hotels, leisure, gaming, oil & gas and property management.

For the half year to December, revenue fell 20% to US$184.5 million, dragged down by lower revenue contributions from its hotel, gaming, and property development segments.

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