Weak late-booking tourist numbers and cautious trading statements from some UK hotel groups have resulted in a downgrading of profit forecasts for the Jurys Doyle Group by its broker Davy.
The earnings per share forecast has been cut from 94.2 cents to 90.5 cents for the year to end April 2002 and from 109.4 cents to 102.2 cents to end April 2003. This still represents very credible growth of 10.3 per cent this year and 13 per cent next year.
Davy has also cut its forecasts for Gresham Hotels ahead of interims due at the end of December. It now expects adjusted diluted earnings per share of 5.8 cents for the year to end January 2002, from an earlier 8.8 cents, and 9.5 cents to January 2003 from an earlier 10.3 cents.
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