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Interim Management Statement

4 May 2016 12:34

RNS Number : 2404X
Mandarin Oriental International Ltd
04 May 2016
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To: Business Editor For immediate release

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The following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.

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MANDARIN ORIENTAL INTERNATIONAL LIMITED

Interim Management Statement

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4th May 2016 - Mandarin Oriental International Limited has today issued an Interim Management Statement for the first quarter of 2016.

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Earnings for the Group during the first quarter were lower than in 2015 due to softer demand in the key markets of Hong Kong and London as well as the adverse impact from a room renovation programme in Washington D.C. Elsewhere, further improvement in Tokyo was offset by weaker conditions in Jakarta, while the Paris hotel maintained its market share in a local environment that remained challenging given the ongoing security concerns.

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The Group expects the subdued trading conditions seen during the first quarter in its key markets to continue for the remainder of the first half.

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Net debt at the end of the first quarter was US$154 million, with gearing as a percentage of adjusted shareholders' funds remaining unchanged at 4%. On 27th April 2016, the Group completed its US$140 million acquisition of Mandarin Oriental, Boston.

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Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most luxurious hotels, resorts and residences. Having grown from its Asian roots into a global brand, the Group now operates 29 hotels and seven residences in 19 countries and territories, with each property reflecting the Group's oriental heritage and unique sense of place. Mandarin Oriental has a strong pipeline of hotels and residences under development, with the next hotel openings planned in Doha and Beijing. Mandarin Oriental International Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. It is a member of the Jardine Matheson Group.

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- end -

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For further information, please contact:

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Mandarin Oriental Hotel Group International Limited

Hamish Ross (852) 2895 9288

Sally de Souza (852) 2895 9167

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Brunswick Group Limited

Kirsten Molyneux (852) 3512 5053

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This and other Group announcements can be accessed through the internet at 'www.mandarinoriental.com'.

This information is provided by RNS
The company news service from the London Stock Exchange
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END
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DOCFZLFBQEFXBBF
Date   Source Headline
31st Jul 200711:16 amRNSAstra 2007 Half Year Results
20th Jul 200711:09 amRNSBermuda Takeover Code
17th Jul 200710:39 amRNSNotice of Results
31st May 200710:27 amRNSTotal Voting Rights
17th May 200710:45 amRNSDirector Declaration
16th May 200712:10 pmRNSDirector/PDMR Shareholding
15th May 200710:14 amRNSJC&C 1st Quarter Results
10th May 20073:12 pmRNSResult of AGM
10th May 20073:04 pmRNSResult of AGM
2nd May 200711:32 amRNSAnnual Information Update
2nd May 200711:23 amRNSDividend
30th Apr 200711:45 amRNSDividend
30th Apr 200711:39 amRNSAstra 2007 1st Qtr Results
20th Apr 200710:35 amRNSHolding(s) in Company
20th Apr 200710:32 amRNSHolding(s) in Company
20th Apr 200710:31 amRNSHolding(s) in Company
20th Apr 200710:29 amRNSHolding(s) in Company
20th Apr 200710:28 amRNSHolding(s) in Company
13th Apr 200710:27 amRNSAnnual Report & Notice of AGM
3rd Apr 200710:17 amRNSCircular to Shareholders
7th Mar 20079:05 amRNSFinal Results
1st Mar 20079:21 amRNSC&C Final Results
28th Feb 200710:53 amRNSPT Astra Final Results
9th Feb 20079:10 amRNSNotice of Results
19th Jan 200710:35 amRNSDirector/PDMR Shareholding
29th Dec 20069:16 amRNSVoting Rights and Capital
20th Dec 20069:49 amRNSHolding(s) in Company
29th Nov 20069:32 amRNSJC&C 3rd Quarter Results
24th Nov 200610:06 amRNSDirector/PDMR Shareholding
22nd Nov 200610:19 amRNSDirector/PDMR Shareholding
22nd Nov 200610:06 amRNSDirector/PDMR Shareholding
10th Nov 200611:38 amRNSDirector/PDMR Shareholding
8th Nov 20069:18 amRNSDividend
6th Nov 20069:14 amRNSDividend
31st Oct 20069:59 amRNSAstra 3rd Quarter Results
27th Oct 200611:38 amRNSHolding(s) in Company
23rd Oct 200611:07 amRNSDirector/PDMR Shareholding
11th Oct 200610:12 amRNSCircular to Shareholders
5th Oct 200610:44 amRNSDoc re. Interim Report 2006
3rd Oct 200610:34 amRNSJC&C Directorate Change
12th Sep 200610:05 amRNSInterim Results
8th Sep 200610:36 amRNSJC&C Interim Results
23rd Aug 200610:24 amRNSNotice of Results
28th Jul 200610:39 amRNSAstra 2006 Half Year Results
23rd Jun 200610:11 amRNSDirector/PDMR Shareholding
21st Jun 200612:11 pmRNSHolding(s) in Company
21st Jun 200612:10 pmRNSHolding(s) in Company
21st Jun 200612:09 pmRNSDirector/PDMR Shareholding
21st Jun 200612:01 pmRNSDirector/PDMR Shareholding
15th Jun 20063:47 pmRNSResult of AGM

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