Shares in Millennium & Copthorne Hotels were up on the FTSE 250 in morning trading after the group reported a rise revenue and pre-tax profit in the full year ended 31 December 2010.
Total revenue was reported as rising 13.7 per cent to £743.7 million, while pre-tax profit increased 57 per cent to £128.6 million.
The group said it would be raising its total dividend 60 per cent to 10.0 pence per share.
In the fourth quarter of the year total revenue rose 16.5 per cent to £207.3 million and pre-tax profit jumped 24.4 per cent to £36.7 million.
Kwek Leng Beng, Chairman of Millennium & Copthorne Hotels, said, "The Group performed well during 2010, delivering a strong operating result and making good progress on its asset management initiatives. Changes we have introduced at the operating level have strengthened the Group, enabling us to find ways to increase revenues whilst continuing to control costs. The economic outlook is more favourable than this time last year, although some uncertainty remains. The Group's strong balance sheet, focused management and effective business model make it well placed to take advantage of expansion opportunities worldwide and to meet the competitive challenges of 2011."
By 08:55 shares in Millennium & Copthorne Hotels were up 0.77 per cent on the FTSE 250 to 586.00 pence per share.