PPHE Hotel Group Limited (PPH.L), a real estate company, on Thursday reported a pre-tax loss for the first-half, reflecting an increase in costs and expenses. However, the Group recorded an increase in revenue.
For the six-month period to June 30, the company posted a pre-tax loss of 1.342 million pounds, compared with a profit of 2.026 million pounds, registered for the same period last year.
Normalized pre-tax earnings were at 2.6 million pounds, lesser than 3.6 million pounds a year ago.
Net profit attributable to equity holders of the parent stood at 3.373 million pounds or 0.08 pounds per share, lower than last year's 3.858 million pounds or 0.09 pounds per share.
Loss from non-controlling interests was 5.593 million pounds, compared with a loss of 2.914 million pounds a year ago.
EBIT rose to 25.418 million pounds from 25.165 million pounds a year ago.
EBITDA was up at 48.254 million pounds from 45.236 million pounds in 2023.
EBITDAR stood at 49.434 million pounds as against prior year's 44.446 million pounds.
Operating expenses were 141.527 million pounds, up from 133.525 million pounds a year ago.
Depreciation and amortization was 22.836 million pounds, compared with 20.071 million pounds in 2023. Financial expenses also moved up to 19.253 million pounds from 18.039 million pounds last year.
Revenue was 190.961 million pounds, up from last year's 179.971 million pounds.
Revenue from rooms stood at 138.5 million pounds, higher than previous year's 133.6 million pounds.
The Board will pay an interim dividend of 17 pence per share on October 15, to shareholders on the register as of September 20.
For comments and feedback: editorial@rttnews.com