DENHAM (dpa-AFX) - Intercontinental Hotels Group PLC (IHG.L) on Tuesday reported profit before tax of $299 million for the first half of the year, significantly higher than $67 million in the same period a year ago, helped by increased revenue.
The company said trading improved significantly with Group comparable Revenue per available room (RevPAR) at the end of the first half reaching near pre-pandemic levels.
Net profit for the period increased to $216 million or 117.4 cents per share from $48 million or 26.2 cents per share last year.
Excluding one-time items, adjusted earnings were $224 million or 121.7 cents per share, up from $74 million or 40.4 cents per share in the previous year.
Revenue increased to $1.794 billion from $1.179 billion last year, primarily due to growth in all segments.
Further, the company's Board has recommended an interim dividend of 43.9 cents per share, up 10% from 39.9 cents per share in 2019. No dividend was paid in 2020 or 2021.
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