Tradewinds Corporation Bhd has returned to the black with a pre-tax profit of RM155.3 million for the financial year 2010 from a pre-tax loss of RM6.6 million in the previous year.

The improvement was attributable to higher revenue generated, better share of associates results, fair value gain on investment properties and financial assets.

Tradewinds Corporation's revenue rose to RM562.6 million from RM474.2 million previously, the company said in a filing to Bursa Malaysia today.

It said the increase in revenue was mainly due to an overall improvement in hotel, trading and financial services divisions and the sale of land by the property division.

Moving forward, Tradewinds said the financial performance of the hotel division was not expected to show any improvement compared to 2010 due to refurbishments being carried out in certain hotels.

The refurbishment of the hotels, which will be completed in stages, was expected to benefit the group in the medium term, it said.

The property investment performance, meanwhile, would be affected as the group was embarking on the re-development of Menara Tun Razak and a construction of a new tower block.

As a result of fair value accounting, the group will be impacted in the short term. The re-development, however, will have positive impact in the longer term. -- Bernama