% rise in annual underlying profits.
The group said its two key brands had outperformed the market during the year.
Chairman Peter Daresbury said: ‘This is another good set of results by the entire group.
Trading patterns remain volatile, although recent booking trends are more encouraging.
The Grand’s general manager, Tim Brooke, said that although the results did not list individual hotel performances, the hotel continued to make a positive year-on-year contribution to group profits and De Vere’s £1.
m investment this year at the Grand indicated its commitment to Jersey.
238December2003
