|Bid||680.00 x N/A|
|Ask||685.00 x N/A|
|Day's range||680.00 - 685.00|
|52-week range||428.00 - 685.00|
|Beta (3Y monthly)||0.68|
|PE ratio (TTM)||52.29|
|Earnings date||2 Aug 2019|
|Forward dividend & yield||0.04 (0.62%)|
|1y target est||550.00|
Shares of M&C surged 35% to the top of the FTSE midcap index and were near the offer price of 685 pence per share. The Singapore-listed real estate firm owns a 65.2% stake in M&C, according to Eikon data from Refinitiv. The deal comes a year after minority shareholders of M&C blocked a takeover bid by CDL on the grounds that it did not reflect the value of the company's property portfolio.
Expectations of an interest rate cut after disappointing U.S. jobs data fuelled a rally in UK shares, helping London's FTSE 100 rise for the fifth straight session on Friday, while Millennium & Copthorne Hotels gained one-third in value after a takeover bid. The FTSE 100 index rose 1% and the FTSE 250 midcap index advanced 0.9%, with gains across all sectors.
The FTSE 100 index rose 1% and the FTSE 250 midcap index advanced 0.9%, with gains across all sectors. After the European Central Bank on Thursday disappointed some with its moves towards policy stimulus, investors were hopeful of an interest rate cut by the Federal Reserve in the near future following a weaker-than-expected U.S. employment report.
(Adds company news items and futures) May 10 (Reuters) - Britain's FTSE 100 index is expected to open 22 points higher at 7,229 on Friday, according to financial bookmakers, while FTSE 100 futures were ...
The company, 65 percent owned by Singaporean billionaire Chairman Kwek Leng Beng's City Developments, said profit before tax fell to 11 million pounds from 26 million pounds last year. The company, whose Chief Executive Officer Jennifer Fox departed suddenly in September after just three months in the role, said its search for a permanent top boss was underway. The operator of the Millennium, Grand Millennium, Copthorne and Kingsgate hotels has flagged 2019 as another challenging year, with significant capital-heavy projects underway and several large hotels earmarked for major renovations.
Millennium & Copthorne Hotels on Friday reported lower profits and warned Brexit is making it harder to hire staff in London. The FTSE 250 operator of hotels in areas such as Knightsbridge, Kensington and next to Chelsea football club said it has faced difficulties in recruiting EU workers in the capital.
The luxury chain, which owns 7 four and five-star hotels in London including one in Chelsea's Stamford Bridge stadium, said workers from the EU accounted for nearly half of its workforce in London properties. While housebuilders and others known to rely heavily on east European labour have yet to report any big squeeze on workforces, the comments from the hotel chain are among the first signals from listed firms in the hospitality industry. "Concerns about Brexit have affected the Group's UK hotels especially in London," the company said in an annual results release, adding the issue was adding to pressures on labour costs from last year's increase in the UK minimum wage.
Britain's impending exit from the European Union is making it hard to hire workers from the bloc who are at the centre of London's hotel business, operator Millennium & Copthorne Hotels said on Friday. The luxury chain, which owns 7 four and five-star hotels in London including one in Chelsea's Stamford Bridge stadium, said workers from the EU accounted for nearly half of its workforce in London properties. While housebuilders and others known to rely heavily on east European labour have yet to report any big squeeze on workforces, the comments from the hotel chain are among the first signals from listed firms in the hospitality industry.
For investors with a long-term horizon, examining earnings trend over time and against industry peers is more insightful than looking at an earnings announcement in one point in time. Investors Read More...
Industry veteran Jennifer Fox, who took up the role only in June, said last month that she was reviewing the company's "earnings profile" and developing a strategic plan. No reason was given for her abrupt departure. The company, which operates the Millennium, Grand Millennium, Copthorne and Kingsgate hotels, said it would provide further updates in due course.
Britain's Millennium & Copthorne Hotels said industry veteran Jennifer Fox would step down as its chief executive, just five months after taking the top job. Tan Kian Seng, the company's Group Chief of ...
The company also expressed caution over the negative effects of Britain's planned departure from the European Union and escalating trade tensions between the United States, China and Europe. "In the past six weeks I have been reviewing the earnings profile and potential of our most important properties. In addition to intense competition from holiday home rental start-ups such as Airbnb, traditional hotel operators such as M&C face sluggish demand stemming from the Brexit, while rising labour costs add to the pressure.
Millennium & Copthorne Hotels new CEO on Friday said she was reviewing the company's "earnings profile" and plans to develop a strategic plan after the hotelier was hit by lower room revenue. ...
Britain's Millennium & Copthorne Hotels (LSE: MLC.L - news) (M&C) warned its annual profit will be lower than expected as its London Mayfair hotel will remain closed until early next year while it is refurbished. The impact of the project on revenue is estimated to be about 20 million pounds ($26.4 million) and will also lower its operating profit, M&C said. The Millennium Hotel London Mayfair will remain closed entirely during the remainder of its refurbishment programme so as to accelerate the work, M&C said.
Britain's Millennium & Copthorne Hotels on Thursday warned its annual profit will be lower than expected as it plans to close its London Mayfair hotel. The impact of the project on revenue is estimated ...
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