27 July 2011 – interim management statement
News from Lonrho is coming thick and fast and an interim management statement has confirmed that in the third quarter of trading revenue was up 31.1% compared with the same quarter in the prior year. On a like-for-like basis growth was 19.1%. The company has also revealed that Lonrho Budget Hotels Ltd has signed a 20 year master franchise agreement with easyHotel to open and operate an easyHotel network across Africa. This provides Lonrho with the exclusive rights to the easyHotel brand in Africa and sets out an agreed opening schedule for fifty properties by 2016. LONG TERM BUY.