GL Limited 1Q earnings up 58% to $23.6 mil on absence of one-off provision

SINGAPORE (Oct 19): GL Limited, formerly known as GuocoLeisure, reported a 58% increase in earnings to US$17.4 million ($23.6 million) for the 1Q ended September, from US$11.0 million a year ago.

This was mainly due the absence of other operating expenses for a one-off provision for a legal claim against a subsidiary in the UK in 1Q17. GL did not record any other operating expenses in 1Q18, compared to other operating expenses of US$8.5 million incurred a year ago.