Arab Today, arab today accor hotels cautious about outlook shares fall
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Accor hotels cautious about outlook, shares fall

Arab Today, arab today

Arab Today, arab today Accor hotels cautious about outlook, shares fall

Paris - AFP

Hotel chain Accor switched back into profit in the first half of the year but was cautious about the outlook on Wednesday, and its shares fell 3.59 percent. The group, the sixth-biggest hotel chain in the world and which has just shaken up its board with a new chief executive, reported a net profit of 34 million euros ($45.5 million) from a loss of 532 million euros at the same time last year. That loss reflected in part the effects of an asset sale. But in the first six months of the year, operating profit fell by 6.6 percent to 198 million euros from 212 million euros in the same period last year. Sales by the group, the biggest operator of hotels in Europe, fell by 0.9 percent to 2.694 billion euros, but on the basis of a comparable asset base and constant exchange rates, they rose by 1.8 percent. The price of shares in the company fell by 3.59 percent in initial trading to 27.76 euros. The overall French market as measured by the CAC 40 index was showing a gain of 0.18 percent. The group said that the fall in operating profit reflected mainly the cost of investment in line with a four-year plan costing 120 million euros. Finance director Sophie Stabile said that activity was firm and that the group was holding to its targets for 2016. The group said that for this year it expected an operating profit of 510-530 million euros from 526 million for 2012. At brokers Aurel BGC, analyst Tangi Le Liboux commented that the group had been somewhat brief in its explanations for the outlook for operating profit for the year.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today accor hotels cautious about outlook shares fall Arab Today, arab today accor hotels cautious about outlook shares fall

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today accor hotels cautious about outlook shares fall Arab Today, arab today accor hotels cautious about outlook shares fall

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday