Jurys expect improved trading results

IRELAND’S Jurys Doyle Hotel Group Plc which in July reported a drop in full-year profits, yesterday said it expected first-half trading to be ahead of last year despite a continuing tough environment.

But the firm told the annual shareholders’ meeting the outcome for the six months to end-October 2002 would depend on trading in the two months of September and October.

Jurys announced Richard Hooper will become chairman of Jurys Doyle Hotel Group plc, succeeding Walter Beatty who will retire, as planned, tomorrow.

Mr Beatty was appointed to the Board in 1972 and became chairman in 1989. He has presided over the successful growth and development of the Group over the past 13 years. Mr Beatty will continue to serve as a non-executive director.

Mr Hooper is a former director and chief executive of Corporate Finance at The Investment Bank of Ireland. He was appointed to the Board of Jurys Doyle Hotel Group plc in 1993, and is a director of a number of other firms.

“The outcome for the year ended April 30, 2002 was achieved against the background of the most challenging trading environment our industry sector has experienced for many years,” said chief executive Pat McCann. “However, we fared very much better than others in the sector. Developing a balanced portfolio of properties in major city centres, in particular, the continued success of the Jurys Inn brand, has illustrated the defensive attractions of our strategy in challenging times.”