Eastern & Oriental posts 3Q net profit of RM18.75mil

“Our Eastern & Oriental Hotel now has more diverse and complete offerings with the completion of the newly refurbished rooms and facilities of the Heritage Wing in December 2019. The recent Covid-19 outbreak has adversely impacted our hotel occupancy. However, the unique hotel offerings and experience will position the hotel well in the longer term, ” it said.

KUALA LUMPUR: Eastern & Oriental Bhd posted net profit of RM18.75mil in the third quarter ended Dec 31,2019, boosted by an unrealised exchange gain of RM23.10mil.

The niche property developer announced on Tuesday the net profit was in contrast with a net loss of RM8.75mil a year ago. Its revenue, however, declined by 53.6% to RM119.15mil from RM256.95mil a year ago.