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11 Feb 2009 17:27
FOR IMMEDIATE RELEASE
11 February 2009
MWB GROUP HOLDINGS PLC:
("MWB" or "the Group")
FURTHER MARKET UPDATE
The Board of MWB, the serviced office, hotels and retail group, today makes a further update to the market in advance of publication of the Group's annual results to 31 December 2008 which are expected to be released in March 2009.
The Board anticipates that adjusted equity shareholders' funds per share at 31 December 2008 will be in line with market expectations and that trading has continued in the manner referred to in the Interim Management Statement issued by the Group on 5 January 2009. In accordance with the sentiments in that statement, EBITDA of MWB and its subsidiaries for the year ended 31 December 2008 is expected to be substantially higher than the EBITDA of £26.8m for the year ended 31 December 2007 but may be approximately 10% lower than the external market expectation updated in August 2008.
Ends.
Contact:
MWB Group Holdings Plc Tel: 020 7706 2121
Richard Balfour-Lynn, Chief Executive
Andrew Blurton, Joint Finance Director
Baron Phillips Associates Tel: 020 7920 3161
Baron Phillips
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