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HOW BLEAK IS THE OUTLOOK FOR IHG?
SAM HART CHARLES STANLEY
“InterContinental Hotels’ interim results were weak, impacted by very tough conditions in the global hotels industry. The results were, however, towards the upper end of market expectations. Cost savings remain a high priority in the current environment and the outlook is tough.”
CHARLIE MENEGATOS ACCENDO MARKETS
“While boss Andrew Cosslett said he expected the remainder of 2009 to be “tough”, the further cost savings planned and careful management are starting to reap dividends. The group reported a forecast-beating dip in interim profits and we reiterated a “buy” recommendation.”