The H1 15 figures have been marked by challenging trading in many of M&C’s key markets. Reported figures for hotels (sales +7.7% in H1, -1.2% LFL) were strongly flattered by the contribution of the three hotels acquired in 2014 (London, Rome and New York) and by FX moves (+3% impact). Sterling notably had a positive FX impact on the group’s overseas income streams In H1 15, revenues rose by 0.5% LFL (+3.3% at constant FX, +2.7% LFL in Q1) which reflected weak RevPAR (-3.3% in
17 Sep 2015
Strong headwinds from Asia
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Strong headwinds from Asia
Millennium & Copthorne Hotels New Zealand Limited (MCK:NZE) | 0 0 0.3% | Mkt Cap: 310.1m
- Published:
17 Sep 2015 -
Author:
Bérénice Lacroix -
Pages:
2
The H1 15 figures have been marked by challenging trading in many of M&C’s key markets. Reported figures for hotels (sales +7.7% in H1, -1.2% LFL) were strongly flattered by the contribution of the three hotels acquired in 2014 (London, Rome and New York) and by FX moves (+3% impact). Sterling notably had a positive FX impact on the group’s overseas income streams In H1 15, revenues rose by 0.5% LFL (+3.3% at constant FX, +2.7% LFL in Q1) which reflected weak RevPAR (-3.3% in