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Millennium & Copthorne Hotels PLC (MLC.L)

MLC.L on London Stock Exchange

520.00GBp
20 Jul 2018
Change (% chg)

-8.00 (-1.52%)
Prev Close
528.00
Open
528.00
Day's High
532.00
Day's Low
510.00
Volume
160,254
Avg. Vol
63,777
52-wk High
630.00
52-wk Low
430.00

Latest Key Developments (Source: Significant Developments)

Millennium & Copthorne Says Jennifer Fox Appointed As CEO
Tuesday, 10 Apr 2018 09:55am EDT 

April 10 (Reuters) - Millennium & Copthorne Hotels PLC ::APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER.JENNIFER FOX WILL BE JOINING COMPANY AS GROUP CHIEF EXECUTIVE OFFICER.  Full Article

Millennium & Copthorne Says 2017 Revenue Rose 8.9 Pct
Thursday, 8 Feb 2018 02:00am EST 

Feb 8 (Reuters) - Millennium & Copthorne Hotels Plc ::‍GROUP REVPAR FOR 2017 INCREASED BY 7.9% TO £82.78​.‍TOTAL REVENUE FOR 2017 GREW BY 8.9% TO £1,008M​.‍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"​.  Full Article

MSD Partners Writes to Independent Directors on Millennium & Copthorne Hotels deal
Thursday, 14 Dec 2017 08:08am EST 

Dec 14 (Reuters) - MSD Partners LP::MSD PARTNERS LP SAYS ‍LETTER WAS PROVIDED BY SHAREHOLDERS IN MILLENNIUM & COPTHORNE HOTELS PLC TO INDEPENDENT COMMITTEE OF BOARD OF DIRECTORS​."WE WILL NOT TENDER OUR SHARES INTO THIS UNATTRACTIVE OFFER AT ANY TIME TO HELP CDL REACH ACCEPTANCE THRESHOLD OF ITS OFFER".MSD PARTNERS LP SAYS ‍CURRENT OFFER, WHICH IS A FINAL OFFER, FROM CDL "REMAINS HIGHLY OPPORTUNISTIC AND SIGNIFICANTLY UNDERVALUES M&C​".LETTER RAISES CONCERN OVER "INADEQUATE REPRESENTATION OF SHAREHOLDER INTERESTS BY INDEPENDENT COMMITTEE".LETTER RAISES CONCERNS OVER "CORPORATE GOVERNANCE ISSUES THAT CDL OFFER HAS HIGHLIGHTED".M&C HAS "EXCELLENT PROSPECTS" AS STANDALONE BUSINESS; "SHOULD SEEK TO MAXIMIZE SHAREHOLDER VALUE".  Full Article

Millennium & Copthorne reports Q3 pretax profit of 55 mln stg
Monday, 30 Oct 2017 03:00am EDT 

Oct 30 (Reuters) - MILLENNIUM & COPTHORNE HOTELS PLC : :MILLENNIUM & COPTHORNE HOTELS PLC - ‍NINE MONTHS AND Q3 RESULTS TO 30 SEPTEMBER 2017​.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍REVPAR £89.75 VERSUS £85.78​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE TOTAL £263M VERSUS £247M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE - HOTEL £231M VERSUS £221M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍PROFIT BEFORE TAX £55M VERSUS £46M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍ON A CONSTANT CURRENCY BASIS, GROUP REVPAR WAS UP BY 1.8% FOR THREE WEEKS ENDED 21 OCTOBER 2017​.MILLENNIUM & COPTHORNE - ‍ON A LIKE-FOR-LIKE BASIS, THREE-WEEKS TO OCT 21, GROUP REVPAR INCREASED BY 0.7%, NEW YORK UP BY 3.3%, AUSTRALASIA UP BY 8.0%​.  Full Article

Millennium & Copthorne Hotels ‍says HY REVPAR grew by 4.9 pct at constant currency
Friday, 4 Aug 2017 02:00am EDT 

Aug 4 (Reuters) - Millennium & Copthorne Hotels Plc :‍IN CONSTANT CURRENCY, GROUP REVPAR GREW BY 4.9% DURING FIRST SIX MONTHS OF 2017​.‍IN Q1 AND Q2 OF 2017, LONDON REVPAR GREW BY 14.5% AND 7.9% RESPECTIVELY​.HY ‍GROUP REVENUE INCREASED BY 16.0% TO £485M OR BY 4.3% IN CONSTANT CURRENCY​.‍PROFIT BEFORE TAX INCREASED BY £7M OR 12.5% FOR SIX-MONTH PERIOD​.‍DECLARED AN INTERIM DIVIDEND OF 2.08P PER SHARE​.‍MANAGEMENT CHANGES ARE CURRENTLY UNDERWAY, WITH INCREASED FOCUS ON SALES, COSTS AND CONTROLS - CHAIRMAN​.‍ON CONSTANT CURRENCY BASIS, REVPAR WAS UP BY 4.3% FOR THREE WEEKS ENDED 21 JULY WITH GROWTH IN ALL REGIONS APART FROM ASIA​.‍REVPAR FOR SINGAPORE AND REST OF ASIA WERE DOWN BY 0.1% AND 3.2% RESPECTIVELY FOR THREE WEEKS ENDED JULY 21​.  Full Article

Millennium Copthorne appoints Shaukat Aziz as senior independent director
Friday, 5 May 2017 07:02am EDT 

May 5 (Reuters) - Millennium & Copthorne Hotels Plc ::Shaukat Aziz has been appointed senior independent director.  Full Article

Millennium & Copthorne Hotels posts Q1 total revenue of 223 mln stg
Friday, 5 May 2017 02:00am EDT 

May 5 (Reuters) - Millennium & Copthorne Hotels Plc ::In constant currency, Q1 group revpar grew by 4.6% with increases in both occupancy and average room rate.Qtrly profit before tax fell by £5m or 27.8% for period.Group revenue improved during first three months of 2017, particularly in London and New Zealand.Poor performance in US region especially New York, remains a concern..Addressing issues contributing to under-performance in US region.Immediate focus is on US management structure, which is currently under review.Q1 total revenue in reported currency grew 16.1 percent to £223m.  Full Article

Millennium & Copthorne reports lower FY pretax profit of 108 mln stg
Friday, 17 Feb 2017 02:00am EST 

Millennium & Copthorne Hotels Plc : Final results . Group REVPAR for 2016 increased by 6.6 pct to 76.71 stg (2015: 71.98 stg). . In constant currency, REVPAR fell by 2.3 pct. For Q4 of 2016, REVPAR in constant currency fell marginally. . Total revenue in reported currency for 2016 grew by 79 mln stg or 9.3 pct to 926 mln stg (2015: 847 mln stg). In constant currency, revenue was flat . Hotel revenue in constant currency declined by 2.3 to 814 mln stg in 2016 as a result of lower contributions from group's hotels in New York and Singapore. . Reported profit before tax for year decreased slightly by 0.9 pct to 108 mln stg (2015: 109 mln stg). . Recommends a final ordinary dividend of 5.66p per share, giving a total ordinary dividend for year of 7.74p per share. . In London, leisure business in q1 was impacted by Nov 2015 Paris terror attacks and in H2 trading was affected by reduced corporate business .Is taking steps to increase revenue and profit across estate, particularly in New York and Singapore..  Full Article

Millennium & Copthorne says Nicholas George to step down on May 5
Friday, 17 Feb 2017 02:00am EST 

Millennium & Copthorne Hotels Plc : Additional board changes . Retirement of Nicholas George . Nicholas George has decided to retire from board with effect as of May 5 2017 .Whilst search for a permanent CEO continues, Tan Kian Seng, will assume position of interim group CEO of company on March 1 2017.  Full Article

Millennium & Copthorne CEO Lee to retire
Wednesday, 24 Aug 2016 12:22pm EDT 

Millennium & Copthorne Hotels Plc : Aloysius Lee, director and group chief executive officer, has notified board of his impending retirement . Aloysius Lee has requested that his retirement take effect as of Jan. 31 2017 .board will consider his request at its forthcoming meeting in September.  Full Article

M&C Hotels directors hit by revolt by minority shareholders

LONDON Millennium & Copthorne Hotels faced an investor revolt over the re-election of some board directors on Friday, following a shareholder rebellion against a takeover bid earlier this year.