logo
Plus   Neg
Share
Email

Accor Posts H1 Loss

Accor (ACRFY.PK,ACRFF.PK) Tuesday reported a first-half 2020 net loss of 1.512 billion euros, compared to net profit of 141 million euros reported last year.

Loss before discontinued operations was 1.772 billion euros, compared to income of 125 million euros prior year. EBITDA amounted to a loss of 227 million euros, compared to earnings of 375 million euros last year.

Consolidated revenue for the first-half dropped 52.4% to 917 million euros from 1.93 billion euros last year.

RevPAR was down 59.3% in first-half 2020. This marked decline reflects the dramatic deterioration in the industry linked to the spread of the Covid-19 virus worldwide, as well as lockdown measures and border closures implemented by governments throughout the world, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
RELATED NEWS
Follow RTT