Elegant Hotels Group plc LON;EHG the owner and operator of five upscale freehold hotels and a beachfront restaurant on the island of Barbados, today told DirectorsTalk its results for the year ended 30 September 2015.
Highlights
· Revenue up 4.3% to $60.1million (2014: $57.6million)
· RevPAR (revenue per available room) up 4.9% to $255 (2014: $243)
· ADR (average daily rates) up 5.7% to $373 from $353
· Adjusted operating profit up 15.7% to $19.2 million (2014: $16.6 million)
· Adjusted EBITDA up 12.7% to $22.2million (2014: $19.7 million)
· Adjusted EPS up 15.7% to 14.7 cents per share (2014: 12.7 cents)
· Net debt down 61.2% to $40.8 million (2014: $105.1 million)
· Successful IPO to the London Stock Exchange’s AIM on 26 May 2015
· Proposed final dividend of 1.75 pence per share, resulting in a full year dividend of 3.5 pence per share covering the approximately five month period on AIM
Commenting on the results, Sunil Chatrani, CEO of Elegant Hotels, said: “This has been a landmark year for Elegant Hotels. We achieved strong revenue and underlying profit growth, and demand for Barbados as a tourist destination remains buoyant, with arrivals and flight capacity both continuing to improve. The Group’s admission to AIM in May has provided us with a great foundation from which to grow and expand, both organically and through acquisitions in Barbados and the wider Caribbean. 2016 promises to be a year of further significant development, and we are excited about the future prospects for the business.”
