HOTEL giant Forte yesterday forecast that its Alpha airline catering
division, which floats on the stock market next month, will this year
make profits of #20.6m.
Alpha, which provides catering services to airlines as well as owning
a chain of airport duty free shops, made operating profits in 1993 of
#17.3m and #12.3m in 1992, the pathfinder prospectus revealed.
Forte will retain a 25% stake in the group with remaining shares going
to the public or placed with institutions. Dealing is to begin on
February 10 and the company is expected to be valued at between #200m
and #250m.
Forte's chairman Rocco Forte said Alpha flotation was another step in
its policy of concentrating on core hotel and restaurant businesses.
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