Jurys increases profits as bids pile up

07 September 2005
Jurys increases profits as bids pile up

Jurys Doyle, Ireland's largest hotel group, announced its interim results this week, in the midst of a frenetic bidding war for the company.

Results for the six months to 30 June showed gross profit increased by 7.4% to €51.4m (£35m).

Turnover increased by 11.8% from €135m (£91.5m) to €151m (£102m) for the same period.

In Ireland, the Limerick Hotel was sold for €292,500 (£198,000) and the Cork property was closed for refurbishment, affecting like-for-like comparisons.

However, Jury's five-star Dublin properties the Berkeley Court and the Westbury reported a small growth in trading profit but a reduction in revenue per available room.

Hotels on its Ballsbridge site in Dublin, which is currently under offer from property investor Sean Dunne, reported "disappointing" results.

Profit at the 12 Jurys Inns in the UK, including two new hotels in Heathrow and Southampton, grew by a quarter. The six UK Jurys Hotels increased profit by 6%.

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