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
Β 

To: Business Editor For immediate release

Β 

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

Β 

MANDARIN ORIENTAL INTERNATIONAL LIMITED

Interim Management Statement

Β 

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

Β 

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.

Β 

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.

Β 

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.

Β 

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.

Β 

- end -

Β 

For further information, please contact:

Β 

Mandarin Oriental Hotel Group International Limited

Hamish Ross (852) 2895 9288

Sally de Souza (852) 2895 9167

Β 

Brunswick Group Limited

Kirsten Molyneux (852) 3512 5053

Β 

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
Β 
END
Β 
Β 
DOCFZLFBQEFXBBF
Date   Source Headline
9th Jun 201511:40 amRNSDirector/PDMR Shareholding
29th May 201510:51 amRNSTotal Voting Rights
22nd May 20157:00 amRNSMandarin Oriental JV to Acquire Hotel Ritz, Madrid
14th May 20158:39 amRNSAdditional Listing
6th May 20152:09 pmRNSNon-Routine Resolutions submitted via NSM
6th May 20151:59 pmRNSResult of AGM
30th Apr 201511:33 amRNSTotal Voting Rights
29th Apr 201510:46 amRNSDividend
9th Apr 20151:24 pmRNSDirector/PDMR Shareholding
9th Apr 201510:30 amRNSAnnual Financial Report
8th Apr 201510:16 amRNSTotal Voting Rights
7th Apr 20155:01 pmRNSResults of 1 for 4 Rights Issue
7th Apr 201510:13 amRNSDirector/PDMR Shareholding
30th Mar 201510:32 amRNSDirector Declaration
25th Mar 20159:18 amRNSDirector/PDMR Shareholding
25th Mar 20159:16 amRNSBlocklisting Interim Review
20th Mar 20159:15 amRNSDirector/PDMR Shareholding
16th Mar 20158:29 amRNSAdmission to Trading
12th Mar 20159:42 amRNSPublication of Prospectus
5th Mar 201510:39 amRNSDirector Declaration
5th Mar 20159:20 amRNS1 FOR 4 RIGHTS ISSUE TO RAISE US$316 MILLION
5th Mar 20159:16 amRNS2014 Preliminary Announcement of Results
2nd Feb 20159:24 amRNSNotice of 2014 Final Results
31st Dec 20147:28 amRNSTotal Voting Rights
2nd Dec 201410:14 amRNSDirector/PDMR Shareholding
5th Nov 201410:08 amRNSInterim Management Statement
30th Sep 201410:10 amRNSDividend
30th Sep 201410:10 amRNSTotal Voting Rights
25th Sep 201410:07 amRNSBlocklisting Interim Review
31st Jul 201410:08 amRNSTotal Voting Rights
31st Jul 201410:06 amRNSHalf Yearly Report
3rd Jul 201411:15 amRNSNotice of 2014 Half-Yearly Results
11th Jun 201411:00 amRNSHolding(s) in Company
30th May 201410:08 amRNSTotal Voting Rights
27th May 20149:47 amRNSTransfer of Listing Segment
7th May 20142:21 pmRNSNon-Routine Resolutions submitted via NSM
7th May 20142:08 pmRNSResult of AGM
7th May 201412:33 pmRNSInterim Management Statement
30th Apr 201410:08 amRNSTotal Voting Rights
29th Apr 201411:07 amRNSDirector/PDMR Shareholding
29th Apr 201410:37 amRNSDividend
24th Apr 201411:32 amRNSTransfer of Listing Segment
23rd Apr 201411:54 amRNSDirector/PDMR Shareholding
22nd Apr 201412:02 pmRNSDirector/PDMR Shareholding
8th Apr 20142:55 pmRNSResult of Special General Meeting
3rd Apr 201410:16 amRNSAnnual Financial Report
26th Mar 20147:00 amRNSMO to Expand Mandarin Oriental, Munich
25th Mar 20149:12 amRNSBlocklisting Interim Review
14th Mar 201410:49 amRNSDirector/PDMR Shareholding
12th Mar 201411:34 amRNSDirector Declaration

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.