<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 17): Shangri-La Hotels (M) Bhd's net profit rose 31.65% to RM25.54 million in the first quarter ended March 31, 2018 (1QFY18), from RM19.4 million a year ago.</p></div>

<div class=newsTextDataWrapInner><p>Revenue for the quarter grew 16.4% to RM151.48 million from RM130.14 million previously.</p></div>

<div class=newsTextDataWrapInner><p>"The overall financial results for the first quarter 2018 benefited from the improved operating performances across the group's hotel businesses as a result of better occupancies and average room rates," Shangri-La said in a filing with Bursa Malaysia today.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Looking forward, Shangri-La said the ongoing positive momentum in both the leisure and business travel markets should support further improvement in the operating performances of its hotel businesses.</p></div>

<div class=newsTextDataWrapInner><p>"The group's hotels and resorts are in a strong position to benefit from these trends," said the group.</p></div>

<div class=newsTextDataWrapInner><p>As for the investment properties, it said the operating environment for UBN Tower is expected to hold relatively steady throughout 2018, while the outlook for UBN apartments remains subdued in a lacklustre market.</p></div>

<div class=newsTextDataWrapInner><p>Shangri-La's share price closed up 25 sen or 4.03% at RM6.45 for a market capitalisation of RM2.73 billion.</p></div>

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KUALA LUMPUR (May 17): Shangri-La Hotels (M) Bhd's net profit rose 31.65% to RM25.54 million in the first quarter ended March 31, 2018 (1QFY18), from RM19.4 million a year ago.

Revenue for the quarter grew 16.4% to RM151.48 million from RM130.14 million previously.

"The overal...

Shangri-La 1Q net profit up 31.7% on better occupancies and room rates

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