Intercontinental: stock up after annual results announced
(CercleFinance.com) - The share of InterContinental Hotels Group has risen by up to 3% in London on Tuesday (currently up 1%) in a market that is just underwater (-0.
5% at shortly after 11 am), after the group published preliminary annual results that included adjusted EPS that was divided by ten to 31.3 cents, albeit beating analysts' expectations.
A mirror image of the impact that the health crisis is having on its sector, the British hotel chain saw its operating profit quartered to 219 million dollars, for revenues that were halved (precisely down 52% to 992 million dollars).
CEO Keith Barr said that more significant progress towards a recovery in the sector is unlikely until later this year, which will depend on vaccinations on a global scale, the lifting of restrictions and an acceleration of economic activity, warns.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
5% at shortly after 11 am), after the group published preliminary annual results that included adjusted EPS that was divided by ten to 31.3 cents, albeit beating analysts' expectations.
A mirror image of the impact that the health crisis is having on its sector, the British hotel chain saw its operating profit quartered to 219 million dollars, for revenues that were halved (precisely down 52% to 992 million dollars).
CEO Keith Barr said that more significant progress towards a recovery in the sector is unlikely until later this year, which will depend on vaccinations on a global scale, the lifting of restrictions and an acceleration of economic activity, warns.
Copyright (c) 2021 CercleFinance.com. All rights reserved.