Main takeaway: Listed hotellier highlights benefit to come from economic recovery and lower interest rates and inflation, with pipeline of development.
Shares in NZX-listed Millennium & Copthorne Hotels bounced 10% after the company reported improved revenue and gave an upbeat outlook for the year ahead.
The company’s full-year revenue to December rose 21% to $176.2 million, while profit after tax dropped 87% to $2.8m because of a one-off,
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Key points
Profit: down 87% to $2.8m
Revenue: up 21% to $176.2m
Main takeaway: Listed hotellier highlights benefit to come from economic recovery and lower interest rates and inflation, with pipeline of development.
