Scottish investment manager Aberdeen Standard Investments Ltd has lifted its stake in 2 NZX-listed companies controlled by the Hong Leong Group of Singapore – to 13.24% for its stake in Millennium & Copthorne Hotels NZ Ltd and 8.38% in CDL Investments NZ Ltd.
Millennium and Copthorne
Hotel owner-operator Millennium & Copthorne Hotels NZ Ltd lifted net profit 24.4% in the June half-year to $39.6 million, on revenue up 22.5% to $127.5 million).
Minority shareholders in NZX-listed Millennium & Copthorne Hotels NZ Ltd have the opportunity to poke a stick at the majority controlling interest in the company at the annual meeting next Thursday, 31 May.
Millennium & Copthorne Hotels NZ Ltd has bumped its dividend up from 5c to 6c/share, fully imputed, after lifting profit by 6.7% in 2017.
Hotel owner & operator Millennium & Copthorne NZ Ltd lifted profit after tax & non-controlling interests by 1.85% in the June half compared to the first half of 2016, on pretax earnings up 6.9%.
Millennium & Copthorne Hotels NZ Ltd cited 4 reasons this week for doubling its profit for the June half.