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Minor posts record net in Q1 on hospitality performance

Minor International reported a record-high first-quarter net profit of Bt1.420 billion after posting Bt1.409 billion in the same period last year - the increase due largely to improvements in the performance of its hospitality business, particularly its overseas hotels and Anantara Vacation Club.

Minor's resilience in spite of adverse political events in Bangkok is credited to its concerted expansion and diversification strategy over the past few years, combined with the ongoing strong performance of the company's international businesses and its hospitality businesses in the provinces of Thailand during the quarter.

Additionally, TRIS Rating recently upgraded ratings on the company and its senior debenture to "A+" from "A", with a stable outlook, further underlying the company's continued ability to deliver a strong performance and its diversified portfolios.


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