Bednight sales push Chobe profits up

In a statement, the BSE-listed company says profit for the period came in at P16.0 million from P15.4 million in the same period last year. Chobe Holdings posted an increase in turnover of 15.8 percent to P71 million, which was driven by a 15-percent increase in bednights sold.

Operating costs grew by 31.4 percent to P47.8 million. For the period, the company says a special dividend of 20thebe per share has been declared and is payable on December 9, 2011.