INTERCONTINENTAL HOTELS GROUP PLC
Interim Results - six months to 30 June 2003
|6 months to
30 June 2003*
|6 months to
30 June 2002*
|- Operating Profit||86||126||(31.7)|
|- Operating Profit||39||34||14.7|
|- Operating Profit||114||157||(27.4)|
|Profit before Tax||92||133||(30.8)|
|Earnings per share||7.6p||11.2p||(32.1)|
|* Pro forma numbers. Soft Drinks results to 5th July 2003 (6th July 2002).|
Richard North, Chief Executive, InterContinental Hotels Group PLC, said:
“Trading conditions in the first six months of this year have been as bad as anyone in the global hospitality industry can remember. Against this background we are focusing on the elements that we can control, namely revenue generation, reducing overhead costs and lowering capital intensity. We are beginning to deliver against these areas and are positioning ourselves for recovery when it comes.
When we reported last May we said that we saw no evidence of a sustained recovery in trading and so we were cautious as to near term trading prospects. I have to say that little has changed since then to alter our view.
More specifically, in the US we believe the improvement in RevPAR over the summer was leisure driven and we are yet to be convinced that there has been an upturn in demand from the business traveller.
In the UK we have seen some improvement in RevPAR particularly in the Regions. Western Europe remains uncertain and although Asia Pacific is continuing its recovery post SARS it has yet to regain all the ground lost.”
For further information, please contact:
Karen Whitworth, Investor Relations
020 7409 8231
Jo Guano, Investor Relations
020 7409 8134
Dee Cayhill/ Kathryn Holland, Corporate Affairs
020 7409 8101
A teleconference, including a webcast of the teleconference presentation slides, will commence at 4.00 pm (London time) on 12th September. The conference call will conclude at approximately 4.30 pm (London time).
To join us for this conference call please dial the relevant number below by 4.00 pm (London time).
|International dial-in||Tel: +44 (0) 1452 569 339|
|UK dial-in||Tel: 0845 245 5300|
|USA dial-in||Tel: 1866 629 0055|
The webcast of the teleconference presentation slides will be available on the following web address: http://www.meetingcentre.net with the access code: 702133343.
There will be a live audio webcast of the presentation of the results at 09.30 on the web address http://www.ihgplc.com/interimresults03. A video and audio webcast of the presentation is expected to be on this website later on the day of the results and will remain on this website for the foreseeable future.
Download full Interim Results announcement (PDF format)
Last updated 25 January 2008