GUOCOLEISURE, the diversified investment company once known as Brierley Investments, has reported a 43 per cent decline in full-year profit after getting a reduced Bass Strait oil and gas royalty and paying more tax. Profit fell to $US43.6 million ($A49.16 million) in the 12 months to June 30, from $US77m a year earlier, the Singapore-based company said in a statement on Friday. Revenue climbed 2.8 per cent to $US380.3m, while the Bass Strait royalty fell about 17 per cent to $US44.6m. The drop in royalty, which comes from oil and gas produced by BHP Billiton in the Bass Strait via interests held by GuocoLeisure's Bass Strait Oil Trust, reflected lower average crude oil prices and a one-time gain a year earlier, it said. The company's hotel division, which operates the Guoman and Thistle hotel chains in the UK and Malaysia, lifted annual revenue by 4.6 per cent to $US367m, helped by demand generated by the 2012 London Summer Olympics. Earnings before financing costs rose to $US52.6m from $US50m. Gaming revenue, from the members-only Clermont Club casino in Mayfair, London, fell to $US9.6m from $US14.4m, widening its loss to $2.8m from $US200,000. The company paid income tax of $US15.5m, up from $US1.3m a year earlier. Because it was once New Zealand stock exchange-listed Brierley Investments, GuocoLeisure still has shares that trade on the NZX. They were last at 72 NZ cents and have gained 24 per cent in the past 12 months.