FINANCIAL SUMMARY & KPIS
Group Financial Summary
| 18 months ended 30 June 2011 | Year ended 31 December 2009 Restated | Year ended 31 December 2008 Restated | |
|---|---|---|---|---|
Consolidated Income Statement | ||||
| Group revenue | £’000 | 365,402 | 284,299 | 277,876 |
| Total EBITDA | £’000 | 46,857 | 30,004 | 32,293 |
| Group operating profit | £’000 | 10,528 | 12,252 | 18,998 |
| Profit/(loss) on ordinary activities before taxation | £’000 | (28,152) | (13,564) | (8,031) |
| Earnings/(loss) per share | Pence | (16.3p) | (20.2p) | (1.8p) |
| Total comprehensive income | £’000 | (55,200) | (20,867) | (80,233) |
Statement of Consolidated Cash Flows: | ||||
| Net cash inflow/(outflow) from operating activities | £’000 | 22,157 | 19,076 | 14,294 |
| Net cash inflow/(outflows) from investing activities | £’000 | 34,509 | (15,161) | (51,637) |
| Decrease/(increase) in net debt during period | £’000 | 49,659 | (5,014) | (49,738) |
| Closing net debt | £’000 | (313,105) | (362,764) | (357,750) |
Consolidated Statement of Financial Position | ||||
| Total property interests | £’000 | 481,976 | 557,090 | 561,697 |
| Net asset value | £’000 | 132,019 | 173,873 | 199,564 |
| Number of ordinary shares in issue at year end | ’000 | 164,038 | 72,371 | 72,371 |
| Equity attributable to shareholders of the Company | £’000 | 81,227 | 102,819 | 122,820 |
| Equity attributable to shareholders per share | Pence | 50p | 142p | 170p |
| Net gearing | Per cent | 237% | 209% | 179% |
| Property gearing | Per cent | 65% | 65% | 64% |
- The results per the Consolidated Income Statement and Comprehensive Income for the twelve months ended 31 December 2010 and for the eighteen months ended 30 June 2011 above include the results of the Continuing operations and Discontinued operations, following the disposal of Liberty in June 2010.
- The figures above reflect adoption by the Group of International Financial Reporting Standards in 2005 and subsequent years.
- EBITDA is the earnings of the Group for the period before interest, tax, depreciation, amortisation and property impairment.
- Net gearing is the percentage that total debt at the period end, less available cash, bears to net assets of the Group.
- Property gearing is the percentage that net debt of the Group at the period end bears to total property interests at the period end.
Key Performance Indicators
| 18 months ended 30 June 2011 | Year ended 31 December 2009 | Year ended 31 December 2008 | |
|---|---|---|---|---|
| Malmaison | ||||
| Average occupancy for period | % | 77 | 78 | 79 |
| Average room rate for period | £ | 100 | 99 | 112 |
| Operating EBITDA* | £’000 | 22,729 | 15,366 | 16,526 |
Hotel du Vin | ||||
| Average occupancy for period | % | 78 | 81 | 81 |
| Average room rate for period | £ | 114 | 111 | 120 |
| Operating EBITDA* | £’000 | 14,954 | 11,221 | 99,927 |
Combined Malmaison and Hotel du Vin | ||||
| Operating EBITDA* | £’000 | 37,683 | 26,587 | 23,453 |
| Operating loss before tax* | £’000 | (13,842) | (1,443) | (632) |
*Operating EBITDA and operating loss before tax exclude pre-opening costs and profit on disposal of fixed assets.
| 18 months ended 30 June 2011 | Year ended 31 December 2009 Restated | Year ended 31 December 2008 | ||
|---|---|---|---|---|
| MWB Business Exchange Plc | ||||
| Revenue | £’000 | 165,205 | 112,416 | 118,544 |
| Occupancy at period end | % | 84 | 82 | 90 |
| EBITDA | £’000 | 905 | 11,010 | 18,088 |
| (Loss)/Profit before tax | £’000 | (13,027) | 6,067 | 14,003 |
