Central Plaza Hotel Plc (CENTEL) posts a rise of 6.7% in revenue in the third quarter at 4.37 billion baht from the previous quarter despite the overall slowdown of the tourism industry and the economy.
The company posted a net profit of 168 million baht from July to September, down from 193 million over the same period last year when it had extraordinary gain from insurance coverage.
"If we compare profit year-on-year without extraordinary gain, our net profit in the third quarter actually rose 3.5%," said Centel's chairman Suthikiati Chirathivat.
Revenue gained 6.7% year-on-year to 4.3 billion baht in the quarter. Hotel business contributed 1.86 billion baht in revenue, down 0.03% from the same period last year, while food operations rose 12.3% to 2.5 billion, 57% of the total.
Earnings before interest, taxes, depreciation and amortisation amounted to 720 million baht, 14.2% lower than the same period last year.
CENTEL shares closed on Friday on the SET at 34 baht, up 75 satang in trade worth 123 million baht.