International Hotel Investments plc – Preliminary Statement of Annual Results

Internationa Hotel Investments plc  issued its Prelimiary Statement of Annual Results for the year ended December 31, 2015.

The company reports a loss before tax of €349k, compared to the loss of €30m recorded for 2014. 

Revenue for the period amounted to €134m, a year-on-year increase of 10.6 per cent. The increase in revenue was as a result of higher revenues in the company’s European operations and the consolidation of the IHGH results for the second half of 2015 . Against this, there was a combined reduction of €9.7 million from the Group’s hotels located in St Petersburg and Tripoli. In the latter, Corinthia Hotel was closed following the unfortunate incident in January 2015 whereas the weaker rouble led to lower reported earnings in Euros. 

Earnings per share stood at a negative €0.01.

To view the official Company Announcement, click here.