InterContinental Net Profit Drops 61 Percent
InterContinental Hotels Group PLC, the owner of the Holiday Inn chain, said Tuesday that second-quarter earnings fell 61 percent after the company incurred greater tax charges.
Net income dropped to 64 million pounds ($129 million) from 164 million pounds in the same period a year earlier, the company said in a statement. Revenue gained 12 percent to 422 million pounds ($851.5 million).
Revenue per available room rose 7 percent in the first half. The company did not provide a second-quarter figure, nor did it provide an exact figure for room revenue.
External Source - For the complete article click here
Source - AP
Logos, product and company names mentioned are the property of their respective owners.
