Post by account_disabled on Jan 2, 2024 1:07:47 GMT -5
Minor International Public Company Limited ("MINT") announces net profit from operations. (Excluding one-time items) reached a record high for the second quarter of 2,101 million baht in the second quarter of 2019, which increased nearly two times from the net operating profit of 1,084 million baht in the second quarter of 2018. In addition, Sale and leaseback of 3 hotels in Portugal which was completed in July, resulting in MINT's net profit increasing by approximately 2,100 million baht. MINT will recognize such net profit in the third quarter of 2019. If counting one-time items, MINT's net profit is Financial statements amounted to 1,786 million baht in the second quarter of 2019, compared to 1,205 million baht in the second quarter of 2018. For the first half of 2019, MINT had a net profit from operations of 2,734 million baht and a net profit according to the financial statements of 2,369. Million baht Net operating profit increased 94% in Q2 2019 compared to the same period last year. This was a result of the consolidation of NH Hotel Group and the strong performance of MINT's hotel business, while MINT realized additional profits from the consolidation of NH Hotel. Group amount of 1,461 million baht in the second quarter of 2019.
Net profit of MINT's hotel business (excluding NH Hotel Group) grew nearly 3 times in the said quarter. by an increase in net profits of the hotel business Help reduce the impact from the slowdown in the hotel business under suite management rights in Australia. Real estate business and the weak performance of Minor Lifestyle. In addition, although Minor Food in Thailand will be affected by slowing domestic WhatsApp Number List consumption. But the restaurant business in China has performed well. The net profit in the second quarter of 2019 compared to the net loss in the second quarter of 2018 was due to same-store sales growth and branch expansion. The nearly 3-fold increase in net profit from MINT's hotel business (excluding NH Hotel Group) in 2Q 2019 compared to 2Q 2018 was driven by MINT's own hotel portfolio. Specifically, hotels under MINT's own brands, especially Anantara and Tivoli brands, excluding hotels managed by others, including Marriott, Four Seasons, St. Regis and Radisson. Blue Net profits of MINT's own branded hotels (excluding NH Hotel Group) increased 25 times higher, while NH Hotel Group posted strong net profit growth in 2Q 2019 NH Hotel Group posted a net profit of EUR 58 million in 2Q 2019, an increase of 35 percent from 2Q 2018 due to improved operating results. Effective cost control and lower financial costs, with MINT starting to consolidate the financial statements of NH Hotel Group since October 2018. MINT.
remains confident in its performance for the full year 2019 based on business and geographic diversity. and the strength of its long-term business fundamentals, with NH Hotel Group demonstrating strong operating results. which is superior to competitors in Europe In the first half of the year This trend continues for the remainder of the year. In addition, MINT will begin to benefit from its first operational integration with NH Hotel Group, namely the transfer of operations of the Tivo Hotel Group. Lee is now under NH Hotel Group. In addition, with the government's policy to stimulate the country's growth. Thailand's economy and domestic consumption are expected to gradually improve. recover better In July 2019, MINT achieved both a strategic and shareholder return by entering into a sale-leaseback transaction of three Tivoli hotels in Portugal. As part of MINT's plan to strengthen its financial position, MINT will realize a sales gain of approximately €62 million (more than 2.1 billion baht) in Q3 2019, helping to increase its shareholder equity base. shares. In addition, the net cash received from the sale price was used to repay the loan. As a result, the debt-to-equity ratio will decrease to 1.3 times by the end of 2019, as previously announced. Information about the company.
Net profit of MINT's hotel business (excluding NH Hotel Group) grew nearly 3 times in the said quarter. by an increase in net profits of the hotel business Help reduce the impact from the slowdown in the hotel business under suite management rights in Australia. Real estate business and the weak performance of Minor Lifestyle. In addition, although Minor Food in Thailand will be affected by slowing domestic WhatsApp Number List consumption. But the restaurant business in China has performed well. The net profit in the second quarter of 2019 compared to the net loss in the second quarter of 2018 was due to same-store sales growth and branch expansion. The nearly 3-fold increase in net profit from MINT's hotel business (excluding NH Hotel Group) in 2Q 2019 compared to 2Q 2018 was driven by MINT's own hotel portfolio. Specifically, hotels under MINT's own brands, especially Anantara and Tivoli brands, excluding hotels managed by others, including Marriott, Four Seasons, St. Regis and Radisson. Blue Net profits of MINT's own branded hotels (excluding NH Hotel Group) increased 25 times higher, while NH Hotel Group posted strong net profit growth in 2Q 2019 NH Hotel Group posted a net profit of EUR 58 million in 2Q 2019, an increase of 35 percent from 2Q 2018 due to improved operating results. Effective cost control and lower financial costs, with MINT starting to consolidate the financial statements of NH Hotel Group since October 2018. MINT.
remains confident in its performance for the full year 2019 based on business and geographic diversity. and the strength of its long-term business fundamentals, with NH Hotel Group demonstrating strong operating results. which is superior to competitors in Europe In the first half of the year This trend continues for the remainder of the year. In addition, MINT will begin to benefit from its first operational integration with NH Hotel Group, namely the transfer of operations of the Tivo Hotel Group. Lee is now under NH Hotel Group. In addition, with the government's policy to stimulate the country's growth. Thailand's economy and domestic consumption are expected to gradually improve. recover better In July 2019, MINT achieved both a strategic and shareholder return by entering into a sale-leaseback transaction of three Tivoli hotels in Portugal. As part of MINT's plan to strengthen its financial position, MINT will realize a sales gain of approximately €62 million (more than 2.1 billion baht) in Q3 2019, helping to increase its shareholder equity base. shares. In addition, the net cash received from the sale price was used to repay the loan. As a result, the debt-to-equity ratio will decrease to 1.3 times by the end of 2019, as previously announced. Information about the company.