PPHE, the asset-backed, London-focused hotel operator, has announced its preliminary results which have beaten our and market expectations. The company continues to deliver a strong performance from existing operations while at the same time developing its portfolio for future earnings and asset growth. The current year is set to be one of consolidation, as a number of new developments open, and we expect 2017 to see an acceleration in earnings growth and cash generation. The shares trade at a significant discount to prospective book value as adjusted for the real value of the assets.
22 Mar 2016
2015 Final Results: Continuing to deliver
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2015 Final Results: Continuing to deliver
PPHE Hotel Group Limited (PPH:LON) | 1,458 -145.8 (-0.7%) | Mkt Cap: 613.1m
- Published:
22 Mar 2016 -
Author:
Steve Clapham -
Pages:
16
PPHE, the asset-backed, London-focused hotel operator, has announced its preliminary results which have beaten our and market expectations. The company continues to deliver a strong performance from existing operations while at the same time developing its portfolio for future earnings and asset growth. The current year is set to be one of consolidation, as a number of new developments open, and we expect 2017 to see an acceleration in earnings growth and cash generation. The shares trade at a significant discount to prospective book value as adjusted for the real value of the assets.