BRIEF-M&C Hotels says granted occupation permit for Glyndebourne residential development

Mon Dec 23, 2013 6:36am EST

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Dec 23 (Reuters) - Millennium & Copthorne Hotels PLC : * Singapore Building and Construction Authority grants TOP to Glyndebourne Residential Development * Revenue, cost recognition will result in one-time increase in M&C's revenues and operating profits for Q4 * Revenues from the Glyndebourne apartment sales totalled approximately s$537m * Pre-tax profits for year estimated to increase by £130 mln to £140 mln post transaction * Revenue and profit for the 3 remaining apartments will be recognised when sold. * Source text for Eikon: * For more news, please click here

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