InterContinental Hotels H1 Pre-tax Profit Declines - Quick Facts

(RTTNews) - InterContinental Hotels Group PLC (IHG.L, IHG) reported that its first-half pre-tax profit declined 34.9 percent to $298 million from $458 million in the same period last year. Earnings per share were 87.7 cents, down from 156.2 cents a year ago.

The decline in pre-tax profit was primarily due to the $175 million exceptional gain on the sale of InterContinental Paris - Le Grand on 20 May 2015.

However, adjusted earnings per share for the latest period were 89.0 cents, compared to 87.2 cents a year ago.

Revenue for the first half declined 8 percent to $838 million from last year's $915 million.

Americas revenues grew 4.0 percent, while Europe revenues declined 24.3 percent. AMEA posted a 0.9 percent drop in revenues and Greater China revenues fell 53.4 percent.

Further, the company's board has proposed an interim dividend increase of 9 percent to 30 cents.

Richard Solomons, Chief Executive, said, "Despite the uncertain environment in some markets, we remain confident in the outlook for the remainder of the year."