Intercontinental Hotels H1 Profit Rises; Says Confident In FY17 Outlook

(RTTNews) - Intercontinental Hotels Group plc. (IHG.L, IHG) reported Tuesday that its first-half profit before tax increased 9.4 percent to $326 million from prior year's $298 million.

Basic earnings per share grew 27.4 percent to 111.7 cents from 87.7 cents a year ago.

Adjusted earnings per share were 113.3 cents, compared to 89.0 cents last year.

Revenue for the first half increased 2 percent to $857 million from last year's $838 million. Underlying revenues increased 4 percent to $788 million from $756 million last year.

RevPAR growth was 2.1% and net system size growth was 3.7%.

Further, the Board has proposed an interim dividend per ordinary share of 33.0¢, representing growth of 10% on the 2016 interim dividend.

Looking ahead, Keith Barr, Chief Executive, said, "While we will always face macro-economic and geopolitical uncertainties, we remain confident in the outlook for 2017."