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Peel Hotels' revenue rises while unsure over impact of Brexit vote

Tue, 11th Oct 2016 10:41

(ShareCast News) - AIM-listed Peel Hotels' half-year revenue increased while it remains uncertain over the fallout from the Brexit vote on the volume of guests.For the six months ended 14 August, revenue increased by 1.8% to about £9.1m, compared to the same period last year, as operating profit rose by 9.1% to £880,119.Hotel gross profit before depreciation and group administration increased 2.7% to about £1.7m. Over the same period, earnings before interest, tax and depreciation (EBITDA) rose by 4.2% to £1.3m.Revenue per available room climbed 2.9%, while occupancy was down 2.3% and the average room rate was up 5.3%.Pre-tax profit increased 19.2% to £592,807.At the end of the period, net debt was £9.4m and decreased by £732,854 from end of the end of the last year, due to an ongoing reduction in finance costs.Basic earnings per share rose to 3.4p from 2.8p last year.Chairman Robert Peel said: "Our challenge is to control our overall costs of doing business in line with modest overall turnover growth. Revenue per available room growth is key to increasing our profits and we have made solid progress in this area albeit at the expense of volume."It is difficult to be certain post-Brexit but a low pound certainly should encourage incoming volume as well as serving as an incentive for British residents to spend more of their leisure time at home."During the six months, the company spent £421,216 mainly on restructuring certain bedrooms at the Crown & Mitre Hotel in Carlisle and on the completion of Bistro George restaurant at the George Hotel in Wallingford.The company plans to spend £700,000 in this financial year to improve standards in the portfolio of hotels.Shares in Peel Hotels were down 1.24% to 114.56p at 1231 BST.

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Earnings and revenue head south at Peel Hotels

(Sharecast News) - Peel Hotels issued its interim results for the 28 weeks ended 12 August on Thursday, reporting a 6.4% decrease in sales to £8.1m, and a 63.4% fall in operating profit to £0.22m.

27 Jul 2018 08:19

Peel Hotels swings to a loss on impairments and exceptional costs

(Sharecast News) - Peel Hotels swung to a pre-tax loss in its last financial year as turnover and EBITDA both fell.

29 Apr 2016 08:04

Peel Hotels Grows Annual Profit As Revenue Per Room Rises

4 Dec 2015 08:41

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30 Sep 2015 09:52

Peel Hotels Profit Falls In First Half But Revenue Grows

22 Apr 2015 08:51

Peel Hotels Annual Profit Benefits As Debt Payments Reduced

9 Oct 2014 10:10

Peel Hotels Posts Higher First-Half Profit Buoyed By Revenue Growth

9 Oct 2014 08:37

Peel Hotels looks ahead to brighter future after occupancy rates rise

First half pre-tax profit more than doubled at Peel Hotels thanks to a higher occupancy rate and a lower financial cost. The accommodation group, which has struggled in recent years, said the occupancy rate climbed 8.8%, while revenue per available room rose 8.3%. Profit before tax rose to £0.56m co

15 May 2014 11:59

Peel Hotels Hopes To Resume Dividends As It Swings To Profit

LONDON (Alliance News) - Peel Hotels PLC Thursday said it hopes to pay a dividend in the future as it swung to profit in the recent full year. The company posted pretax profit of GBP341,863 for the period ended February 2, compared with a GBP97,411 loss a year earlier. Operating profit rose

12 Oct 2011 09:00

Peel Hotels hit by VAT rise and downturn

AIM-listed Peel Hotels swung back into profit but said its market was extremely challenging and it would not pay an interim dividend. The company announced pre-tax profits of £32,998 in the 28 weeks to 21 August, compared to a loss of £7,000 a year earlier. Accommodation revenue per available room

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