The group’s bottomline was however dragged down by higher staff costs for the quarter which notably grew to $7 million, up 19% from $5.8 million in 3Q16 due to an increase in start-up costs of a new hotel and timing difference arising from the recognition of service points into salaries.
SINGAPORE (Nov 13): Amara Holdings reported a 20% decline in 3Q17 earnings to $3.2 million from $4 million in the same period a year ago, on higher costs incurred over the quarter ended Sept.
Revenue for the quarter grew 12% to $22.2 million from $19.8 million previously, mainly due to higher revenue contributions from the group’s Hotel Investment and Management segment and Property Investment and Development segment.
