Stamford Land’s 2Q earnings grow 63% to $5.9 mil on forex gain

SINGAPORE (Nov 10): Stamford Land Corporation posted a 62.8% increase in 2Q17 to $5.9 million from $3.6 million in the corresponding quarter a year ago, due mainly to a one-off foreign exchange (forex) gain.

As a result, earnings per share for the quarter has risen to 68 cents from 42 cents in the previous year.

The independent owner-operator of luxury hotels in Australasia recorded a marginal 0.5% decline in revenue 2Q17 to $48.5 million, from $48.8 million in 2Q16.

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