Banyan Tree’s FY14 operating profit crashed 31% to $51.1m

Due to lower contribution from its hotels investments segment.

Despite a revaluation gain of its investment properties in Seychelles, Banyan Tree found itself bearing less fruit in 2014.

According to a media release, revenue decreased 8% to S$327.4 million. Meanwhile, operating profit decreased 31% to S$51.1 million due to lower contribution from Hotel Investments segment and an absence of one-off gain from sale of Angsana Velavaru hotel in 1Q13.

The company is cautiously optimistic of a better performance in FY2015 due to a promising property sales outlook: a consistency in sales, an unrecognized revenue of S$110m; will be predominantly recognized in 2015, and pre-launched booking deposits of 151 units (71% of Phase 1A).