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Accor H1 Revenues Up 28%

Accor (ACRFY.PK,ACRFF.PK) reported a first-half 2019 net profit of 141 million euros, down from 2.18 billion euros reported last year.

Profit before discontinued operations was 125 million euros compared to a loss of 115 million euros prior year. EBITDA amounted to 375 million euros in the first half of 2019, up 30% as reported from 288 million euros last year.

Consolidated revenue for the first-half rose 27.8% to 1.93 billion euros from $1.51 billion euros last year.

CEO Sebastien Bazin said, "Once again, Accor reported another semester of solid results, in line with its objectives set for the medium term. Transformed into an asset-light player, the Group is now capitalizing on its growth drivers — strong complementary brands that are leaders in the majority of their markets, a sustained development, leading positions in the most touristic markets and a unique ecosystem for the benefit of the Group's millions of customers and partner-owners. The execution of our plan and our business momentum remain on track to achieve another record year in 2019."

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