PPHE’s trading update confirmed that trading was in line with expectations and that the new year had started well. This is reassuring news and it appears that the business performance has acclerated in Q4, although the comparison is distorted by the Croatian acquisition and new openings. Nevertheless, we are encouraged. The stock continues to trade at a significant discount to the real value of the assets, a value to be further boosted when the new hotels open, and we expect the discount to narrow.
02 Feb 2017
2016 Q4 Trading Update
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2016 Q4 Trading Update
PPHE Hotel Group Limited (PPH:LON) | 1,422 0 0.0% | Mkt Cap: 598.4m
- Published:
02 Feb 2017 -
Author:
Steve Clapham -
Pages:
4
PPHE’s trading update confirmed that trading was in line with expectations and that the new year had started well. This is reassuring news and it appears that the business performance has acclerated in Q4, although the comparison is distorted by the Croatian acquisition and new openings. Nevertheless, we are encouraged. The stock continues to trade at a significant discount to the real value of the assets, a value to be further boosted when the new hotels open, and we expect the discount to narrow.