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Mantra Group News




BOB EAST: CEO UPDATE

I was pleased to recently announce Mantra Group’s results for the half year ended 31 December 2014, a period during which the Group performed strongly in terms of revenue, profitability and cash flow.

Mantra Group delivered total revenue of $252.7 million, representing a 9.4% increase on H1FY2014.  This result reflects improved occupancy levels and average room rates plus a successful focus by Management on cost control and improved efficiencies in key areas of the business.

It has been particularly pleasing to achieve growth in each of our operating segments, including our CBD properties where revenue grew by 13.5% to $136.4 million and half year EBITDAI reached $25.1 million.  Among other factors, strong conference and corporate demand in Melbourne, Adelaide and Darwin, plus the G20 in Brisbane, drove strong corporate demand and increased occupancy levels.

Across our resort operations, we achieved revenue of $95.1 million and EBITDAI of $15.0 million, representing increases on H1FY2014 of 3.6% and 4.9% respectively.  This sector benefitted from growth in both domestic and international visitation, with occupancy increasing by a solid 5.4% period-on-period.

As indicated at the time of the IPO, the Board approved payment of a fully franked dividend of 5 cents per share for the period to 31 December 2014, which was paid on 31 March 2015.  With total assets of $545 million and net assets of $279 million, Mantra Group is in a good financial position and we are well placed to deliver shareholder value in FY2015.