Centel profit skyrockets 225% in Q3 on tourism, food outlet gains

Central Plaza Hotel Plc (CENTEL) reported a 225% rise in net profit for the third quarter to 103.77 million baht from last year.

For the first nine months, the reviewed net profit totalled 833.10 million baht, up 75.25% year-on-year, the company said in a statement to the SET yesterday.

Suthikiati Chirathivat, chairman of the board of Centel, said total consolidated revenues were 3.48 billion, up 24.5% year-on-year, thanks to strong growth of its core hotel and food groups.

Hotel business revenues rose 23% compared to the same period last year, while food business was up 25.5%, on the expansion of food outlets and strong growth in the tourism industry.

For the nine-month period, it reported total consolidated revenues of 10.75 billion, up 27.5% from last year, with a net profit of 833.1 million, up 75.2%.

Mr Suthikiati expects the tourist high season and festivals to prolong spending.

Shares of CENTEL fell 50 satang to close at 22.8 baht yesterday on the SET in trade worth 53.02 million baht.