Hotel operator and property developer Millennium & Copthorne Hotels New Zealand has boosted first-half profit by 93 per cent as it lifted the performance of its hotel operations and its property developments turned profitable.

Net profit after minorities rose to $12 million, or 7.59 cents per share, in the six months ended June 30, from $6.2m a year earlier, the Auckland-based company said. Revenue rose 4.5 per cent to $70m. The previous year’s profit was eroded by a $3.1m loss in then-associated Chinese property…