InterContinental Hotels FY Profit Rises; Revenue Up 18.8%

(RTTNews) - InterContinental Hotels Group PLC (IHG.L, IHG) reported that its fiscal year profit before tax increased to $1.01 billion from $540 million, last year. Earnings per share, in cents, was 441.2 compared to 206.0. Adjusted earnings was $635 million, up 24.3% from last year. Adjusted earnings per ordinary share, in cents, was 375.7 compared to 282.3. For the year ended 31 December 2023, total revenue increased to $4.62 billion from $3.89 billion, prior year.

The Board proposed a final dividend of 104.0 cents in respect of 2023, which is growth of 10% on 2022. With the interim dividend of 48.3 cents paid in October 2023, the total dividend for the year would therefore be 152.3 cents, an increase of 10%.

The Group said a new share buyback programme will commence immediately, targeted to return $800 million over the course of 2024.

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