InterContinental Profit for 2006 Fell 13% on 50% Lower Revenue
06 pretax net from operations up 71%
FEBRUARY 20, 2007. InterContinental Hotels' pretax profit fell to 247 million pounds ($481.8 million) from 284 million in 2005, while revenue declined to 960 million pounds from 1.91 billion.
Pretax profit from continuing operations rose 71% to 217 million pounds from 127 million, while revenue from continuing operations rose 13% to 805 million from 713 million.
Basic earnings per share were 104.1 pence compared with 95.2 pence.
Adjusted earnings from continuing operations were 37.5 pence a share compared with 22.5 pence.
In constant currencies, revenue per available room, a key industry measure of performance, rose 9.8% for the year.
InterContinental raised its total dividend for 2006 20% to 18.4 pence a share.
At year's end, the company operated hotels with 556,246 rooms, up 3.5%.
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