Mantra comes out swinging

Mantra has done it again, pulling a total revenue of $498.8 million out of a hat for the last financial year.

The Group achieved year-on-year growth in each of its key operating segments, including a $272.3 million revenue in the CBD sector and resorts racking up revenue of $181.8 million.

“Following the listing of Mantra Group on the ASX in June 2014, FY2015 has proven to be another successful year in growth and development with a focus on portfolio growth in strategically aligned properties and destinations aimed at increasing shareholder value,” Mantra Group’s ceo Bob East said.

“This has been endorsed by the addition of 11 new properties to the portfolio, a well-supported capital raise of $56.7 million in March 2015 and an increase in Mantra Group’s share price by approximately 90%.”

“We are pleased to report that for the year ended 30 June 2015, the Group achieved earnings above that forecast in its prospectus for IPO and at the top end of the updated guidance range announced on 1 May 2015.

On top of that, fees from new properties under management in Brisbane, Sydney, Melbourne, Christchurch and Bali coupled with ongoing increases in central reservations driven by on-line booking volume, added to this performance.

The resort sector benefitted from consistent leisure demand in all key regions assisted by an increase in the capacity of domestic low cost carriers into key leisure destinations.

Among other factors, new properties, increased occupancy and average room rates driven primarily by improved business sentiment as well as sporting and major entertainment events in key CBD destinations contributed to the above budget performance.

“The Group delivered total revenue of $498.8 million representing a 9.7% increase on FY2014. NPAT was $36.2 million, up $36.5m on FY2014 and EBITDAI of $73.1 million up 19.2% on FY2014,” East added.

“This result reflects the strength of the performance of the business in FY2015 driven by acquisitions, strong performances in each of the operating segments as well as an ongoing Management focus on cost control and improved efficiencies in key areas of the business.

“With total assets of $601.4 million, net assets of $337.4 million and a strong cash flow the Group is well placed to deliver continued shareholder value in FY2016.”

“In the year ahead Mantra Group is well positioned to capitalise on growth and development via asset and investment opportunities and take advantage of its strong development pipeline and forecast growth in Australia’s tourism sector aimed at increasing shareholder value.”

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