Millennium & Copthorne Hotels New Zealand climbs to 5-year peak on upbeat annual results

Millennium & Copthorne Hotels New Zealand

24/02/2025 02:22

** Shares of Millennium & Copthorne Hotels New Zealand
 MCK.NZ  rise 8.8% to NZ$2.61, their highest levels since
February 3, 2020
    ** Stock rose as much as 11.8% to NZ$2.67 in early trade
    ** The hotel operator posts profit before tax of NZ$47.1
million for fiscal 2024 vs NZ$37.5 million last year
    ** Co attributes its profit gain to positive growth in NZ
hotel business
    ** More than 38,000 shares change hands, 2.1 times the
30-day avg volume
    ** Stock up 43.4% YTD, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))