Guocoleisure ends Q3 in the black for the first time in three years

Thanks to better cost management.

Guocoleisure reported a net profit of $5.9m (US$4.4m) in Q3, its first third-quarter profit in three years.

The improvement was driven by better cost management across its hotel portfolio and lower interest costs.

These were partially offset by a decline in oil and agas royalty from the Bass Straits and an unfavourable FX translation due to the depreciation of the British pound against the greenback.

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