Shares in hotel group PPHE fell today after it revealed revenue had fallen by nearly 60% to £25.8m from £62m a year ago.
The former Park Plaza Hotels Group pointed out that the 2020 H1 results had benefited from a pre-Covid January and February, adding that Q2 revenue for 2021 was double that for Q2 2020, at £20.4m.
Nonetheless, shares slid by 4.9% today to 1,446p. PPHE’s market cap remains nearly one-third down on its pre-Covid peak in February 2020.
Elsewhere, Landsec was among the biggest risers on the FTSE 100, up 2.4% at 726p at the close, while Big Yellow Group fared the best across FTSE 250 property companies, rising by 3% to 1,571p.
The FTSE 100 finished 0.4% up at 7,149 points, having risen sharply this morning before giving back its earlier strong gains, while tech names like Just Eat Takeaway and Ocado shares rose. The FTSE 250 rose 0.6% to 24,250 points.
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