28 July 2020 - trading update

A trading update has been provided by the international hospitality real estate group, covering the first half of 2020.  Revenue fell by 60.2% from £155.3m to £61.9m, with occupancy falling from 76.8% to 34.7%.  Trading in January and February was in line with expectations but from mid-March there was disruption with properties being either temporary closed or operating at significantly reduced capacity.  Decisive action was taken to preserve cash and reduce costs and overheads.  This included reducing payroll costs by utilising government job retention schemes, reduced working hours, voluntary . . .

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