Easyhotel Posts Rise In Profit

Easyhotel PLC reported an increase in its profit during the six months ended March 31. Easyhotel's pretax profit for the half year climbed to 365,352 pounds ($0.6 million), up from GBP342,521, in the year-ago period. Excluding costs and one off items, the company's pretax profit increased to GBP1.35 million from GBP0.61 million. Its revenue jumped to GBP2.59 million from GBP1.27 million. "easyHotel has continued to perform well, with a doubling of revenue year on year driven primarily by an increase in the capacity of our owned hotel portfolio," Simon Champion, Chief Executive Officer said.