SET-listed Central Plaza Hotel Plc (Centel) posted 8.2% revenue growth for the second quarter as both its hotel and food businesses delivered positive performances.
Suthikiati Chirathivat, chairman of the board at Centara Hotels & Resorts. Centel reported a 6.7% decline in second-quarter operating profit.
Centel's consolidated revenue for the three months through June amounted to 5.19 billion baht, up 8.2% year-on-year. Consolidated ebitda (earnings before interest, tax, depreciation and amortisation) rose by 3.9% to 924 million baht year-on-year, Centel said in a statement.
But Centel reported a 6.7% decline in second-quarter operating profit to 371.7 million baht, due mainly to an accounting adjustment affecting the amount of corporate income tax in the second quarter. This resulted in a reduction in corporate income tax of 28.8 million baht.
Excluding this non-recurring transaction, Centel's second-quarter core profit would have increased marginally.
Of total revenue, the hotel business posted consolidated revenue of 2.14 billion baht in the second quarter, an increase of 5.6% year-on-year, as existing hotels showed continued growth.
In addition, the company recognised revenue from the Centara Government Complex Hotel and Convention Center in Chaeng Watthana and Cosi Samui Chaweng Beach, which started operations at the end of 2017.
Ebitda for Centel's hotel business amounted to 528 million baht, up 4.5% year-on-year.
The food business, meanwhile, posted 3.05 billion baht in consolidated revenue in the second quarter, up 10% year-on-year, propelled by ongoing QSR outlet expansion during the period with a total 84 outlets (an increase of 10.2% compared with the same period last year).
