KOP sees 1Q earnings triple to $4.9 mil on hotel disposal

SINGAPORE (Aug 12): Real estate, hospitality and entertainment group KOP Limited saw 1Q17 earnings nearly triple to $4.9 million from $1.8 million a year ago on gain from the sale of a hotel asset.

Revenue fell by 54% to $2.6 million from $5.7 million, dragged down by a decrease in revenue from the real estate development and investment as well as the hospitality segments.

Real estate development and investment revenue fell due to sales arising from the handover of completed properties of Montigo Resorts, Nongsa in 1Q16.

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