IHG H1 Profit Climbs; Says Confident Of Rest Of Year Outlook - Quick Facts

(RTTNews) - InterContinental Hotels Group plc (IHG.L, IHG) reported Tuesday that its first-half profit before tax climbed 24.6 percent to $375 million from last year's $301 million.

Basic earnings per share were 167.2 cents, up 36 percent from 122.6 cents a year ago. Adjusted earnings per share were 143.2 cents, compared to 145.3 cents last year.

Operating profit increased 14 percent from last year to $457 million.

Total revenue for the first half was $2.28 billion, up 8 percent from prior year's $2.11 billion. Revenue from reportable segments grew 12 percent to $1.01 billion from $900 million in the last year.

First-half comparable Revenue per available room or RevPAR in Americas edged up 0.1%, while it was flat in US. The company said comparable RevPAR in Americas was driven by 0.8% rate growth, with occupancy impacted by tough comparables from hurricane related demand in H1 2018.

In EMEAA, RevPAR grew 0.2%, while it dropped 0.3 percent in Greater China.

Looking ahead, Keith Barr, Chief Executive Officer, IHG, said, "Whilst there are always macro-economic and geo-political uncertainties in some markets, our broad geographic spread and the resilient, cash-generative nature of our business gives us confidence in the outlook for the balance of the year."