Profit up for Orient Express Hotels

04 August 2006
Profit up for Orient Express Hotels

Le Manior Quat' Saisons owner Orient-Express Hotels has seen profit climb 8% during the second quarter of the year.

In the quarter ended 30 June, the company, which has 49 hotels, restaurants, tourist trains and river cruise properties, made a net profit of $19.9m (£10.5m) on turnover of $140m (£74m), 8% up on a year ago.

However, net profit for the first half of the year was $12.2m (£6.44m) compared with $16.9m (£8.9m) in 2005. Turnover was 28% lower due to losses in the first quarter at $221.4m (£117m).

Traditionally Orient's first quarter trading results in a loss as many of its properties are closed for the winter period.

Pansea Hotel Group buy gives Orient Express a boost >>

Orient-Express sells stake in Harry's Bar to Birley family >>

Sea Containers pulls out of Orient-Express >>

By Chris Druce

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