Guocoleisure ends Q3 in the black for the first time in three years
Thanks to better cost management.
Guocoleisure reported a net profit of $5.9m (US$4.4m) in Q3, its first third-quarter profit in three years.
The improvement was driven by better cost management across its hotel portfolio and lower interest costs.
These were partially offset by a decline in oil and agas royalty from the Bass Straits and an unfavourable FX translation due to the depreciation of the British pound against the greenback.