M&C sees turnover and profits rise with new man at helm

06 May 2008 by
M&C sees turnover and profits rise with new man at helm

Millennium & Copthorne (M&C) Hotels has published its first set of results following the appointment of new chief executive Richard Hartman last month.

The group saw turnover climb 2.4% to £160.7m in the first quarter and revenue per available room across the group's hotels increase 7.4% to £51.70.

M&C's operating profit jumped 17.1% to £28.1m (2007: £24m).

Group chairman Kwek Leng Beng said the results had been "in line with expectations".

Hartman, who joins a company where his five predecessors have had average tenures of less than two years in charge, has said he is to focus on stability at the hotel group rather than expansion.

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By Gemma Sharkey

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TagsFinance and Hotels
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