LONDON (Thomson Financial) - Maypole Group Plc. posted a narrower full-year
pretax loss on higher revenues, but said current trading is marginally below its
expectations, with like-for-like sales for the first quarter of 2008 slightly
below the corresponding period in 2007.
However, the company noted that sales was affected in part by Easter falling
particularly early this year, and so this is not a straight comparison.
The UK countryside hotels with restaurants group posted a pretax loss of
213,245 pounds for the year to end-December, against 253,840 pounds loss last
year. Revenues rose to 5.16 million pounds from 3.01 million pounds last year.
The company said its new acquisitions are performing well, with increased
synergies across the portfolio, and added that against a backdrop of reduced
discretionary consumer spending, its performance has remained robust.
It said it remains encouraged by its overall performance in difficult
economic conditions, and that it is firmly focused on adding further hotels to
its existing portfolio.
Meanwhile, in view of ongoing expansion plans and long term growth
prospects, Maypole said it does not expect to pay a dividend for the foreseeable
future.
TFN.newsdesk@thomson.com
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