Millennium and Copthorne hikes divi after record year

Hotels group Millennium & Copthorne smashed expectations with profits and revenue reaching record levels in 2011, prompting the firm to raise its full-year dividend by almost two-thirds.

Hotels group Millennium & Copthorne smashed expectations with profits and revenue reaching record levels in 2011, prompting the firm to raise its full-year dividend by almost two-thirds.

Pre-tax profits jumped 50.3% in the 12 months ended December 31st from £128.6m to £193.3m, well ahead of the consensus forecasts of £159.6m. Panmure Gordon was expecting a figure closer to £144.5m.

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