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Mixed performance at CI Traders hospitality division

27 April 2006
Mixed performance at CI Traders hospitality division

Channel Islands conglomerate CI Traders has reported a mixed performance at its hotel, bars and restaurants on Jersey and Guernsey.

Although turnover at its 80-strong hospitality division was up 5% year-on-year to 28 January 2006 at £29.2m (£22.1m), the company said overall profit was slightly down.

Growth in Guernsey restaurants and Jersey pubs and restaurants offset a fall in Guernsey pub turnover.

But the group's hotels struggled with turnover down some 6% due to uncertainty surrounding its St Pierre Park on Guernsey, which is bidding for casino status.

The company noted little has been done to address the decline in tourist numbers visiting the Islands in the last decade or so.

Total turnover for the group was up 11% to £326.1m (2005: £293.9m) and pre-tax profit climbed 3.4% to £15.2m (2005: £14.7m).

Weak performance of hotels hurts performance >>

TRG buys Blubeckers >>

CI Traders look on bright side >>

By Chris Druce

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