£PPHE Hotels have issued a positive H1 trading update this morning which has tempted me to buy back in a small holding. They are benefiting from Euro reporting, improved occupancy and the profitability outlook is strong. My summary purchase "notes" below:

H1 sales +12% ahead last year mainly from higher occupancy in the Germany/Holland/Hungary hotels and H1 and H2 profitability is expected to be "ahead of management expectations", F score 7 (almost 9). Euro reporting helping sales which are 65% UK + 35% Europe mainland. Broker EPS forecast likely to be upgraded. High gearing, Planned refurbishment impact deferred from 2015 to 2016. Good momentum and value? Ian

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