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IHG checks in record new rooms but revenue falls short


By Goran Nastic

InterContinental Hotels Group (IHG) came under modest pressure in early trading after a record 200 hotel openings in the first half still saw revenue fall short of expectations.

While the Holiday Inn owner delivered 10% growth in operating profit, 13% growth in adjusted earnings per share and record hotel development activity, investors focused on a slowdown in second-quarter room revenue growth and a small profit miss versus consensus forecasts.


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Bellway delivers ‘robust performance’ despite subdued trading

Bellway has stated that it has delivered a "robust performance" in the year to 31 July, as it beat its total housing completion expectations

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Serica draws a line under Pharos pursuit

Serica Energy has brought its pursuit of Pharos Energy to a halt, declaring that its 32.67p-per-share offer is final and will not be increased, despite a higher competing bid from Ratio Petroleum Energy which is now firmly in the driver's seat

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Nichols acquires VITHIT for £64m

Nichols has agreed to acquire 100% of the issued share capital of the Irish functional drinks brand, VITHIT, for £64m

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Shoe Zone shares jump as it steps up guidance

Shares in Shoe Zone increased by over 17% after the retailer reported that its cash and equivalents are set to be £7m ahead of its previous budget

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Apollo agrees £5.7bn easyJet takeover after Castlelake drops out

easyJet has agreed to a £5.7bn takeover by US investment firm Apollo Global Management after original bidder Castlelake withdrew from the race

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Seeing Machines sees automotive royalties drive profitability

Seeing Machines shares more than 11% after the AI-powered driver monitoring specialist reported stronger revenue, record automotive production volumes and a profitable second half

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Marshalls’ profit grows in subdued market

Marshalls has stated that it has delivered a "resilient first half performance" despite subdued end markets, as its adjusted profit before tax jumped 13.2% year-on-year to £24.9m

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£100m venture capital boost for UK early-stage businesses

The Government is backing a new £100m phase of the British Business Bank’s Investor Pathways Capital Initiative to expand access to venture capital for early-stage businesses across the UK and support growth beyond London

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Goodwin shares jump as it explores potential defence arm sale

Shares in Goodwin jumped by as much as 15% earlier today as the FTSE 250 firm confirmed it had launched a strategic review into the potential sale of its mechanical engineering division

Ratio tops Serica with improved £146.4m bid for Pharos

The Pharos Energy board has switched its support back to Ratio Petroleum after the Israeli company increased its takeover offer for the London-listed firm
CMA clears Paramount-Warner Bros merger

The Competition and Markets Authority has approved Paramount Skydance's proposed $110bn acquisition of Warner Bros. Discovery, concluding that the deal is unlikely to substantially reduce competition in the UK and will not be referred for an in-depth Phase 2 investigation.

The CMA's review was based on evidence from the companies, internal documents, customers and competitors, as well as responses to its public consultation
Genel Energy rejects £202m Norwegian takeover bid

Genel Energy has rejected a £202m acquisition bid from the Norwegian oil and gas firm, DNO


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