Last checked at 1 Jun 2017 07:00
Hostelworld Group plc
("Hostelworld" or the "Group")
AGM Statement
Hostelworld, the world's leading hostel-focused online booking platform, today holds its 2017 Annual General Meeting.
Richard Segal, Chairman, will present the following update to shareholders:
"I am pleased to report that the improved trading momentum which commenced in the latter part of 2016 has continued. Total Group bookings year to date are ahead of the corresponding period last year across all regions, albeit with more moderate gains in European destinations. Overall Average Booking Value is also higher than the corresponding period last year. Our continued execution of key strategic initiatives together with our highly cash generative business model positions the Group well to make further progress. While mindful that the key summer travel season is still ahead of us, we remain confident of meeting the Board's expectations for the full year".
Subject to approval at the AGM, the final dividend in respect of the year ended 31 December 2016 of 10.4 euro cent per share together with the supplementary dividend of 10.5 euro cent per share will be paid on 6 June 2017 to shareholders on the register at 28 April 2017. This will bring the total dividend in respect of 2016 to 25.7 euro cent per share.
ends
For further information please contact:
Hostelworld Group plc
Feargal Mooney, Chief Executive Officer
Tel: +353 (0) 1 498 0700
Weber Shandwick
Nick Oborne
Tom Jenkins
Tel: +44 (0) 20 7067 0000