InterContinental shares hit record high after positive results

Travelling up.

Shares in InterContinental Hotels have reached their highest ever level, gaining 4 per cent after the travel group reported higher annual profits and a boon for investors in the form of a special dividend.

IHG shares hit £40 in early trading on Tuesday after earlier posting results showing a 4 per cent rise in operating profit to $707m and a special dividend of $400m to be paid to shareholders this summer.