Regal back in profit
01 January 2000
REGAL Hotel Group has returned to profit after a corporate restructure, hotel acquisitions and a massive injection of equity from shareholders.
In the first half of 1994 Regal raised a total of £13.5m through share placings and offers and bought six hotels for £12.1m. The six-month trading period, reported last week, includes only three weeks' trading from four hotels acquired in June.
In the financial period to 3 July, trading returned to the black with a small operating profit of £54,000 compared with a £308,000 loss in the same period last year. Following interest charges of £49,000, Regal posted a pre-tax profit of £5,000.
