8 March 2012 – final results
Results for PPHE Hotel Group (formerly Park Plaza) have been released. Revenue was up 44% at €202.4m (2010: €139.8m). Normalised profit before tax more than doubled to €13.6m (2010: €6.1m). The company looks set to make further progress this year and factors such as the London Olympics will be benficial. A final dividend of 6.0p per share has been declared (2010: nil), showing confidence in prospects moving forward. With a market capitalisation of just under £100m, there is plenty of scope for capital growth and we rate the shares as a BUY.