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CDI statement on NZMDT determination - sharechat.co.nz

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Millenium & Copthorne hotel income drops 94%


Pandemic harmed hotel business, but property development, govt tax credits led to profit.
NZX-listed Millennium & Copthorne Hotels NZ (MCK) is still in the black after Covid-19 containment restriction cut its hotel profits by 94% in the year ending December 31.
It made a better-than-expected small profit of $1.9 million from hotel operations in 2020 compared to $33.5m the prior year.  The company reported an overall profit of $46m, down from $49.7m the prior due to the property development operations of its majority-owned subsidiary, CDL Investments New Zealand Limited which had a positive year despite the difficulties caused by Covid-19 and through sales of four apartment units at the Zenith Residences in Sydney, ....

New Zealand , New South Wales , Investments New Zealand , Millennium Copthorne Hotels , Copthorne Hotels , New Zealand Limited , Zenith Residences , புதியது ஜீலாந்து , புதியது தெற்கு வேல்ஸ் , முதலீடுகள் புதியது ஜீலாந்து , புதியது ஜீலாந்து வரையறுக்கப்பட்டவை , உச்சம் குடியிருப்புகள் ,