Second profits warning for Queens Moat
09 July 2001
Hotel group Queens Moat Houses has issued its second profits warning in three months. It warned on 4 May that full-year profits would be affected by foot-and-mouth and the economic slowdown. It said today: "Since that date, trading in the UK and the Netherlands has weakened to a greater extent than anticipated. "Profit before tax for the six months to 1 July 2001 will, therefore, be below the board's expectations." But the company added: "Traditionally, the second half is the stronger six months for the group. Looking beyond the short term, the board remains confident of the group's prospects."
