Elegant Hotels Group Plc announced unaudited consolidated operating and financial results for the six months ended 31 March 2018. For the six months the company reported revenue of $38,785,000 against $35,781,000 a year ago. Operating profit was $12,409,000 against $12,603,000 a year ago. Profit before taxation was $10,763,000 against $11,513,000 a year ago. Profit for the period attributable to equity holders of the Parent was $8,818,000 against $9,210,000 a year ago. Basic and diluted earnings per share were 9.9 cents against 10.3 cents a year ago. EBITDA was $14,678,000 against $14,550,000 a year ago. Adjusted EBITDA was 15,351,000 against $15,271,000 a year ago. Adjusted operating profit was $13,082,000 against $13,324,000 a year ago. Adjusted profit before tax was $11,436,000 against $12,234,000 a year ago. Adjusted profit after tax was $9,323,000 against $9,787,000 a year ago. Adjusted basis and diluted earnings per share was 10.5 cents against 11.0 cents a year ago. Net cash generated from operating activities was $8,649,000 against $7,980,000 a year ago. Purchase of property, plant and equipment was $3,880,000 against $2,812,000 a year ago. Purchase of intangible assets was $222,000.

For the six months, overall occupancy grew by one percentage point to 67% against 66% a year ago. This was driven by occupancy increases at Colony Club, The House and Turtle Beach. ADR increased 2% to $433 against $425 a year ago. This movement was largely driven by Waves, which was able to add over 20% to its rate as the property becomes increasingly well established.     

As a result, the Group remains comfortable with the 2018 outlook versus market expectations and confident in the Group's longer term prospects.