The Jurys Doyle Hotel Group this morning announced an increase of 18% in pre-tax profits for the six months ending October 31, 2000 of 32.82 million euro. This compares with 27.83 million for the corresponding period in 1999.
Turnover for the period was 130 million euro - up 18.7% on the 1999 figure. Earnings per share amounted to 45.4 cents - an improvement of 18.2% over the 1999 figure of 38.4 cents.
The Directors of the hotel group have declared an interim dividend of 7.174 cents per share, an increase of 19% on the previous year's interim dividend.
In a statement, the Group said that its strategy continues to focus on organic and acquisitive growth in city locations, achieving a segmental spread and a balance of business between corporate, leisure and tourism.
Commenting on the results, the Goup's Chief Executive, Pat McCann, said: 'The strong set of results reflects our position in the Irish market and increasing presence overseas. We have established a strong market presence in the three major cities of London, Dublin and Washington, supported by a growing portfolio of hotels and Inns in thriving regional centres'.
Over the past six months, the company have continued their capital spending programme in Ireland and Britain. This included a £3m investment in the Berkeley Court Hotel, a £10m sterling redevelopment of the Jurys Clifton Ford Hotel in London and the opening of the Jurys Great Russell Street Hotel in London at a cost of £23m sterling.
Mr McCann said that the performance of the Group's three hotels in the US has exceeded expectations. The company is positive about expanding there, with growth focused on the eastern seaboard.
