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Accor H1 Net Profit Down

French hotel group Accor (ACRFY.PK,ACRFF.PK) Thursday reported that its net profit, Group share, for the half year declined to 74 million euros from last year's 91 million euros.

EBIT, or earnings before interest and taxes, slid 4 percent to 239 million euros from 263 million euros a year ago.

Revenue for the first half decreased 4.7 percent to 2.598 billion. On a like-for-like basis, revenue was up 2 percent, resulting from favorable business levels in most of the Group's key markets- Northern, Central and Eastern Europe, Asia-Pacific, Americas and the Mediterranean, Middle East, Africa.

The Group said it expects 2016 EBIT to come within a broad range of between 670 million euros and 720 million euros.

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