CASH rich hotels-to-pub group Bass has hinted at further acquisitions as it strives to build up its reshaped business.

Chairman Sir Ian Prosser said Bass was intent on taking advantage of "slowing global economic conditions" to find investment opportunities.

The group has more than £2bn to spend, and Sir Ian's comments are likely to fuel speculation over a possible move in the US, where it has seen a slight fall in trade due to the weakening US economy.

Bass was linked with a £2.8bn bid for US hotels operator Wyndham International last Friday.

The group has switched its attention to developing its international hotels arm, which includes the Inter-Continental and Crowne Plaza brands, and focusing exclusively on high growth pubs and restaurants.

It sold almost 1,000 unbranded pubs to Japanese bank Nomura, in February, and bought 79 Posthouse hotels in April.

Last year, it sold its brewing division to Belgian beermaker Interbrew.

Yesterday, Bass said it had made good progress in reshaping the business, as its remaining businesses reported first-half pre-tax profits of £337m before one-off costs - an increase of four per cent.

Turnover across the remaining businesses rose 19.7 per cent to £2.1bn in the six months to April 14. Total turnover in the hotels division rose by 37 per cent to £932m.

The bottom-line pre-tax profit, including disposed businesses and one-off costs, was £303m, down from £306m in the same period last year. Shareholders will receive an interim dividend of 10.4p per share, up 3p on last year.