Following an annual revaluation of its hotel properties, which revealed a surplus of £170m, Queens Moat Houses holdings have a total value over £1bn. This takes the asset value up to 135p (100p), an increase of 35%. Along with a strong profits jump, up 70% to £42.2m, Queens Moat also announced a one-for-four scrip issue.
Total dividend rose 20% to 2.28p for 1988. The company envisages that there will be a further 25% rise in dividend for 1989.
Queens Moat now claims to be the largest British-based hotelier in Continental Europe. Expansion in Europe, particularly in West Germany, continues.
