This was mainly attributed to an increase in revenue from both Holiday Inn Resort Phuket and Crowne Plaza London Kensington, due to higher occupancy and average room rates. Stronger Thai Baht and Sterling Pound had also contributed to the increase.
SINGAPORE (May 7): AF Global reported 1Q18 earnings declined by 45% to $1.56 million, compared to $2.84 million in 1Q17.
Revenue for the quarter came in at $16.3 million, 11% higher than $14.7 million last year, bringing 1Q18 gross profit to $8.49 million, 12% higher y-o-y.
