Accor raises FY earnings guidance as Q4 like-for-like sales jump 7.2 pct UPDATE |
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Published
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Wed, 17 Jan 2007 19:22
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(updates with breakdown of sales)PARIS (AFX) - Accor said a surge of 7.2 pct in fourth-quarter like-for-like sales has led it to raise its guidance for full-year operating profit before tax and exceptional items to 700-720 mln eur from 680-700 mln previously.Sales in the fourth quarter were proforma 1.965 bln eur, up from proforma 1.865 bln a year earlier, thanks to growth in France and favourable trends in Northern Europe, notably Germany.On a reported basis sales were up 5.3 pctA range of analysts forecasts had put sales in the period at 1.907-1.943 bln eur.Full-year sales were 7.607 bln eur, up 6.7 pct like for like from proforma 7.136 bln in 2005.This compared to a median forecast of 7.675 bln eur based on 17 analysts polled by Thomson Financial.By segment, fourth quarter hotel revenues were 1.376 bln eur, up from 1.323 bln a year earlier, with gains at upscale/midscale and economy outlets offsetting a slide in US economy sales to 220.8 mln from 236.6 mln.Services sales were 216.6 mln eur, up from 187.8 mln.Other businesses had revenues of 372.5 mln eur, up from 354.5 mln, thanks to growth in catering and casino activities.paris@afxnews.commrg/tc/mrg/gpCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Forest Labs raises FY forecast as Q3 EPS jumps to 0.78 usd, beating forecasts 