Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMandarin In.sg Regulatory News (MDO)

  • This share is currently suspended. It was suspended at a price of 1.65
  • There is currently no data for MDO

Interim Management Statement

4 May 2016 12:34

RNS Number : 2404X
Mandarin Oriental International Ltd
04 May 2016
 

To: Business Editor For immediate release

 

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

 

MANDARIN ORIENTAL INTERNATIONAL LIMITED

Interim Management Statement

 

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

 

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.

 

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.

 

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.

 

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.

 

- end -

 

For further information, please contact:

 

Mandarin Oriental Hotel Group International Limited

Hamish Ross (852) 2895 9288

Sally de Souza (852) 2895 9167

 

Brunswick Group Limited

Kirsten Molyneux (852) 3512 5053

 

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
 
END
 
 
DOCFZLFBQEFXBBF
Date   Source Headline
21st Jun 200612:09 pmRNSDirector/PDMR Shareholding
21st Jun 200612:04 pmRNSDirector/PDMR Shareholding
21st Jun 200612:01 pmRNSDirector/PDMR Shareholding
15th Jun 20067:06 amRNSDirector/PDMR Shareholding
15th Jun 20067:06 amRNSDirector Declaration
15th Jun 20067:00 amRNSDirectorate Change
14th Jun 20064:23 pmRNSResult of AGM
14th Jun 20063:28 pmRNSResult of AGM
7th Jun 200611:11 amRNSDividend
23rd May 200610:25 amRNSBermuda Takeover Code
17th May 200612:21 pmRNSAnnual Information Update
27th Apr 200610:11 amRNSAnnual Report & Notice of AGM
20th Apr 200611:37 amRNSDirector/PDMR Shareholding
3rd Apr 200612:46 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:42 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:42 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:38 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:33 pmRNSDirector/PDMR Shareholding
3rd Apr 200611:19 amRNSDirector Declaration
3rd Apr 200611:19 amRNSDirector Declaration
31st Mar 200612:07 pmRNSDirector/PDMR Shareholding
30th Mar 200612:36 pmRNSDirector/PDMR Shareholding
30th Mar 200612:34 pmRNSDirector/PDMR Shareholding
30th Mar 200612:29 pmRNSDirector/PDMR Shareholding
3rd Mar 20069:35 amRNSDirector/PDMR Shareholding
28th Feb 20069:33 amRNSDirector/PDMR Shareholding
23rd Feb 20069:05 amRNSFinal Results
22nd Feb 20069:09 amRNSDirectorate Change
6th Feb 20069:15 amRNSNotice of Results
9th Jan 200611:31 amRNSDirector/PDMR Shareholding
9th Jan 200611:26 amRNSDirector/PDMR Shareholding
9th Jan 200611:26 amRNSDirector/PDMR Shareholding
9th Jan 200611:23 amRNSDirector/PDMR Shareholding
30th Dec 20059:40 amRNSTransaction in Own Shares
30th Dec 20057:00 amRNSMO to sell The Mark, New York
21st Dec 200510:35 amRNSDirector/PDMR Shareholding
19th Dec 200511:25 amRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.