PPHE, the asset-backed, London-focused hotel operator, has published a strong set of 2015 interim results, as prefaced in its recent unscheduled trading statement. The company looks indebted relative to income, but this reflects a major development pipeline in progress, where the assets have yet to contribute income, while the shares trade at a substantial discount to book value as adjusted for the real value of the assets.
28 Aug 2015
Interims - Continuing to deliver
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Interims - Continuing to deliver
PPHE Hotel Group Limited (PPH:LON) | 1,452 -217.9 (-1.0%) | Mkt Cap: 611.0m
- Published:
28 Aug 2015 -
Author:
Steve Clapham -
Pages:
12
PPHE, the asset-backed, London-focused hotel operator, has published a strong set of 2015 interim results, as prefaced in its recent unscheduled trading statement. The company looks indebted relative to income, but this reflects a major development pipeline in progress, where the assets have yet to contribute income, while the shares trade at a substantial discount to book value as adjusted for the real value of the assets.