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Banyan Tree in recovery after Asian tsunami

14 August 2006

Luxury hotel resort operator Banyan Tree Holdings' second quarter results reflect a recovery in Singapore's tourist trade following the Asian tsunami.

The company, which manages luxury hotels and spas across the Asia Pacific reported a second quarter net loss of $2m (£1.1m), down from $9m (£4.8m) a year earlier.

Revenue for the three months ended 30 June rose 110% to $71.4m (£37.8m) from $34m (£18m) a year earlier, with all parts of the business showing an improvement in performance.

By Matthew Batham

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

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