Intercontinental delivers strong results

Intercontinental has unveiled its preliminary full year results with highlights including operating profit up 42% from £134m to £190m, the successful disposal of Britvic for £371m and the continued transformation of the business to focus on management and franchise.Commenting on the results, Andrew Cosslett, Chief Executive of InterContinental Hotels Group PLC said:
“This is a strong set of results with a solid performance across all three of our regions. 2005 was a year of significant change for IHG and a number of key strategic milestones were met. We executed on our asset disposal programme and successfully floated Britvic, to become a pure play, high growth hotel company, managing and franchising hotels using our attractive stable of brands. The record number of hotels we currently have under development gives us confidence we can grow this business and achieve our rooms target as we look to the years ahead.”