BERLIN: InterContinental Hotels Group Plc (IHG), Europes second-largest publicly traded hotel operator, said first-half profit declined eight per cent as the company generated less revenue. The shares fell to the lowest in three months. Operating profit before exceptional items and tax fell to US$310 million (RM992 million) from US$338 million a year earlier, the Denham, England-based company said in a statement. That beat US$307 million, the average of 10 analyst estimates compiled by Bloomberg. Revenue declined by three per cent to US$908 million. Bloomberg
To continue reading the rest of the article, click here