BRIEF-IHG's Greater China RevPAR Falls As Hong Kong Protests Persist
Feb 18 (Reuters) - InterContinental Hotels Group PLC :
* FINAL RESULTS
* DURING YEAR ENDED 31 DECEMBER 2019, TOTAL REVENUE INCREASED BY $290M (6.7%) TO $4,627M
* GIVEN ONGOING IMPACT OF CORONAVIRUS AFTER OUTBREAK IN CHINA, PRIORITY REMAINS HEALTH, SAFETY OF COLLEAGUES, GUESTS, PARTNERS ON GROUND
* FY COMPARABLE REVPAR: GLOBAL = (0.3)%; AMERICAS = (0.1)% (US = (0.2)%); EMEAA = 0.3%; GREATER CHINA = (4.5)%
* FY OPERATING PROFIT AND PROFIT BEFORE TAX INCREASED BY $48M (8.2%) AND $60M (12.4%) RESPECTIVELY
* INVESTMENTS BEING FUNDED BY GROUP-WIDE EFFICIENCY PROGRAMME, WHICH IS ON TRACK TO DELIVER $125M OF ANNUAL SAVINGS
* FY GREATER CHINA REVENUE DECREASED BY $8M (5.6%) TO $135M, OPERATING PROFIT UP BY $4M (5.8%) TO $73M
* PROPOSED A FINAL DIVIDEND PER ORDINARY SHARE OF 85.9¢
* FY IMPAIRMENT OF $131M COMPRISES A $50M IMPAIRMENT ON KIMPTON MANAGEMENT AGREEMENTS AND AN $81M IMPAIRMENT RELATING TO UK PORTFOLIO
* FY GREATER CHINA COMPARABLE REVPAR DECREASED 4.5% (Q4: DOWN 10.5%), IMPACTED BY ONGOING UNREST IN HONG KONG SAR
* FY GROUP OPERATING PROFIT $630M VERSUS $582M
* FY PROFIT BEFORE TAX $542 MILLION VERSUS $482 MILLION Source text for Eikon: Further company coverage:
