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PPHE Hotel Group H1 profit falls YOY

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PPHE Hotel Group H1 profit falls YOY

PPHE Hotel Group Ltd said its normalized net income for the first half was 6 Great British pence per share, a decline of 61.2% from 15 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £2.5 million, a decline of 60.8% from £6.3 million in the year-earlier period.

Total revenue climbed 9.2% year over year to £111.6 million from £102.3 million, and total operating expenses grew 18.7% year over year to £90.9 million from £76.6 million.

Reported net income increased 20.8% from the prior-year period to £13.1 million, or 31 pence per share, from £10.8 million, or 26 pence per share.