Mandarin Oriental profits slump in 2009

Guest Writer

Mandarin Oriental International Ltd has announced its results for full-year 2009, with the luxury hotel operator posting an underlying profit for the year of US$12 million, compared with US$67 million in 2008. Earnings before interest, tax, depreciation and amortization (EBITDA) for 2009 were US$88 million - down from US$164 million last year. The results were assisted by the US$81 million gained from the sale of the group’s Macau hotel.

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