Hyatt Profits Up

Greek casino group Hyatt nine month group net profits surged 49.4 pct year on year to 51.5 mln eur under IFRS. Brokers said this was in-line with expectations given that one off items were incorporated in the accounting statements for the first time.

"Hyatt noted that the profit increase was largely attributable to the application of IFRS to the sale of its 20.1 pct stake in Hellenic Hotels Lampsa SA in January of this year. Excluding the one-off profit, the group said, net profits showed a small increase from the first nine months of last year

"… Today, Hyatt closed up 0.59 pct to 10.18 eur, with the ASE general index closing little changed at 3,484.13 points after testing the 3,500 point level

2005-11-27