LONDON Millennium & Copthorne said last week it was confident of future growth, after posting strong full year results. The company, which has a portfolio of 88 hotels worldwide, said year pre-tax profits rose 55% to #129.1 million, or $189.1 million, in 2000.
The company said the results reflected the inclusion of a full year of assets acquired during 1999 and a focus on promoting strong organic growth. M&C is planning to concentrate on developing existing properties in Asia over the coming year. The company will also continue an investment program in the U.S. and will dispose of the remaining four non-core Regal hotels, which it acquired in 1999. (3/13/01)
SOURCE:Reuters