Symphony strikes the right note

Symphony International, the FTSE listed owner of Asian consumer brands, yesterday reported a 11 per cent increase in the value of its investment portfolio. The company, which owns a variety of assets including hospitals, hotels, and restaurants brands, said its net asset value increased despite more volatility in Asian markets. Pre-tax profits at Symphony increased from $40.9m (£26m) to $71.3m for the three months ending June driven by a surge in the value of shares it owns in Minor International. The hotel chain, which owns hotels under the Four Season and Marriott brands, soared in value over the period, netting Symphony $46.9m in profit.

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