19th Oct 2015 07:11
LONDON (Alliance News) - Barbados hotel operator Elegant Hotels PLC on Monday said trading for the year to the end of September has been in line with its expectations as it continues to seek potential acquisitions in the Caribbean.
The company, which operates five hotels in the Caribbean destination, said trading since it published its interim results in June has been solid, with its operating results for the year to September 30 to be in line with its expectations, both in terms of earnings before interest, taxation, depreciation and amortisation and its pretax profit.
The second half of the year saw a continued flow of passengers to Barbados, with particular growth coming from the US market due to higher airline capacity, while trends from the UK remained positive.
Elegant said it has been working to identify potential acquisitions in Barbados and the surrounding islands and hopes to announce progress on this strategy in the short-to-medium term.
"As we move in to the key winter months ahead, we continue to focus on building the profitability of our core existing business while looking closely and selectively at acquisition opportunities in Barbados and the surrounding Caribbean islands," said Chief Executive Sunil Chatrani.
Shares in Elegant were up 0.5% to 107.00 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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