Millennium & Copthorne Hotels plc announced earnings guidance for the fourth quarter and full year of 2013. Revenues from the Glyndebourne apartment sales totalled approximately £274 million and M&C's pre-tax profits for the year are estimated to increase by £130 million to £140 million as a result of the transaction. The tax rate applicable to the transaction is likely to be lower than the Group's underlying effective tax rate.
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- Millennium & Copthorne Hotels plc Announces Earnings Guidance for the Fourth Quarter and Full Year of 2013