GuocoLeisure hit with $5.38m loss in FY14

But total revenue climbed 6.8%.

Mainboard-listed GuocoLeisure posted impressive results in FY14, except for a one-off impairment loss of US$4.3m ($5.38m) for its gaming segment.

According to CIMB, total revenue rose 6.8% to US$406m ($507.32m), mainly due to stronger hotel revenue. GuocoLeisure’s hotel segment still managed to raise its revenue by 6.5%
to US$391m despite the reduced room inventory due to refurbishment work at several of its London hotels since February this year.

“Given a portfolio of underperforming hotels in prime locations in London, management has the best instrument to play with so as to deliver a remarkable performance catch-up. Helmed by the ex-Standard Chartered banker Mike DeNoma who came on board in Aug 2012, GuocoLeisure’s hotel segment is undergoing a series of positive developments, including the utilisation of data science to improve customer retention, refurbishment work to improve the value of its room stock as well as the rebranding exercise to improve its hotels’ market positioning,” noted the report.