Jurys Doyle, Ireland's biggest hotel group, has warned the outbreak of foot-and-mouth in Ireland and Britain means that it will not meet analysts' forecasts for the year to the end of April.

It is understood that the shortfall from forecasts of around 79 cents per share will be minimal and that full-year earnings per share are likely to be in the 75-77 cent range. Sources close to the company were emphatic that, given the scale of the shortfall, yesterday's pre-close period trading statement was not a profits warning.

Analysts have been expecting profits of around #59 million and earnings per share of 79-80 cents. The trading statement, however, had no negative effect on Jurys' shares, which rose 22 cents to #8.62. The shares, however, are already trading well below their February 27th high of #11.10 and have fallen almost 25 per cent in the past month as the impact of foot-and-mouth has been priced into the shares. Yesterday's statement about the effects of the outbreak on trading was not unexpected and the lack of surprise is reflected in the market's response.

In the trading statement, the company said that although trading in the third quarter to the end of January had been strong, the outbreak of foot-and-mouth resulted in the cancellation of various national and international sports and cultural events. In the UK, the more relaxed restrictions have meant that nine hotels and inns are performing well while the US hotels are trading strongly.

Jurys chief executive Mr Pat McCann said that while the group would report robust profit growth in the year to April "the impact of the unforeseen events is such that current broker forecasts for growth will not be achieved".