February 8, 2018 / 7:16 AM / 3 months ago

BRIEF-Millennium & Copthorne Says 2017 Revenue Rose 8.9 Pct

Feb 8 (Reuters) - Millennium & Copthorne Hotels Plc:

* ‍PROFIT BEFORE TAX FOR YEAR INCREASED BY 36.1% TO £147M​

* ‍EXPECTS TO MAKE SIGNIFICANT CAPITAL INVESTMENT FOR TRANSFORMATION TO REPOSITIONING OF HOTELS

* ‍RECOMMENDS A FINAL ORDINARY DIVIDEND OF 4.42P PER SHARE (2016: 5.66P)​

* ‍IN FIRST 31 DAYS OF TRADING IN 2018, GROUP REVPAR IN CONSTANT CURRENCY INCREASED BY 3.6%​

* ‍AT 31 DECEMBER 2017, GROUP HAD NET DEBT OF £650M (DEC 2016: NET DEBT £707M)​

* “‍CONCERNS ABOUT BREXIT HAVE AFFECTED OUR UK HOTELS ESP IN LONDON, WHERE THERE WERE ALREADY PRESSURES ON LABOUR COSTS”​ Source text for Eikon: Further company coverage:

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