Elegant Hotels Group Plc reported unaudited consolidated earnings results for the six months ended March 31, 2016. For the period, the company reported revenue of USD 36,481,000 against USD 36,427,000 a year ago. Operating profit was USD 17,732,000 against USD 14,061,000 a year ago. Profit before taxation was USD 16,986,000 against USD 12,137,000 a year ago. Net profit and other comprehensive income attributable to equity holders of the parent company were USD 13,589,000 or 15.3 cents per basic and diluted share against USD 9,973,000 or 17.6 cents per basic and diluted share a year ago. Net cash from operating activities was USD 11,235,000 against USD 12,225,000 a year ago. Purchase of property, plant and equipment was USD 2,041,000 against USD 1,948,000 a year ago. Adjusted EBITDA was USD 16,691,000 against USD 16,259,000 a year ago. Adjusted operating profit was USD 15,097,000 against USD 14,721,000 a year ago. EBITDA was USD 19,326,000 against USD 15,599,000 a year ago. Net debt was down USD 42.0 million to USD 54.8 million (first half of 2015: USD 96.8 million) due to the use of the IPO proceeds, partially offset by increased borrowings of USD 20.5 million for Waves Hotel & Spa.

The interim dividend for the period of 3.5 pence per share will be paid on 15 July 2016 to shareholders on the register on 24 June 2016, and the Company's ordinary shares will become ex-dividend on 23 June 2016.

With the major booking period now over, the Board expects full year like for like sales to be slightly below fiscal year 2015, and consequently adjusted EBITDA for the full year to 30 September 2016 is now expected to be between USD 20 million and USD 21 million.