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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

IHG H1 profits surge to $216mn

IHG said it plans to repurchase shares worth a total of $500 million. (Creative Commons)
  • InterContinental Hotels Group said that profits rose sharply in the first half after Covid travel restrictions were lifted around the world
  • IHG, which also owns brands such as Crowne Plaza and Holiday Inn, said that first-half revenues jumped by 52 percent to $1.8 billion.

InterContinental Hotels Group said Tuesday that profits rose sharply in the first half of 2022 after Covid travel restrictions were lifted around the world.

Net profit rose to $216 million in the period from January to June from $48 million in the same period a year earlier, IHG said in a statement.

IHG, which also owns brands such as Crowne Plaza and Holiday Inn, said that first-half revenues jumped by 52 percent to $1.8 billion.

“We saw continued strong trading in the first half of 2022 with increased demand for travel in most of our markets,” said chief executive Keith Barr.

IHG said it would resume its interim dividend, up 10 percent compared with the last half-year payout in 2019 before Covid struck.

The group said it also planned to repurchase shares worth a total of $500 million.

Its share price dropped 1.6 percent in midday trading on the London stock exchange, following recent solid gains.