Millennium & Copthorne Hotels NZ rises as unit helps drive HY revenue

Millennium & Copthorne Hotels New Zealand

02/08/2021 01:22

** Shares of Millennium & Copthorne Hotels New Zealand Ltd
 MCK.NZ  rise as much as 1.7% to NZ$2.37, biggest intraday pct
gain since May 21
    ** Hotel operator posts total revenue from continuing
operations for HY NZ$98.4 million ($68.60 million), up 16.1% on
pcp  urn:newsml:reuters.com:*:nNZW2ClkhC
    ** Co says results continue to be helped by its unit CDL
Investments New Zealand Ltd  CDI.NZ  and property sales at its
Zenith Residences in Sydney
    ** Posts a drop in total profit for half year by 25.7% to
NZ$$25.3 mln
    ** Reality continues to be that hotel operations in New
Zealand will still be difficult in the short to medium term for
everyone - MCK
    ** Co says looking at the second half of 2021, it is aiming
for an overall result which was an improvement on the previous
year
    ** Stock trading at its highest levels since July 26
    ** Stock up 1.8% this year as of last close


($1 = 1.4343 New Zealand dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))