Footwear retailer, RCG Corporation’s Impact from challenging retail conditions
Boost from diversified geographic presence: Mantra Group is benefitting from the diversified geographic presence in the Australian accommodation market and an increasing presence in overseas markets. At the back of this aspect, MTR’s FY17 results entailed 12.7% rise in underlying EBITDAI of $101.2 million over FY16 and this has been in line with market guidance. Underlying NPAT of $47.2 million was also up $5.9 million, reflecting 14.2% year-on-year growth. Group’s total revenue surged 13.7% to $689 million from $606.1 million and EPS rose 10.9%. Strong trading results and decreased transaction costs helped in increasing the operating cash inflows. On the other hand, increased tax payments impacted the cash flow position slightly. The group had added about six properties to the network during the year and Mantra Hotel at Sydney Airport was opened in July 2017. MTR also entered into an agreement to acquire The Art Series Hotel Group with unique hotels in popular cultural hubs in key Australian capital cities, and the acquisition is subject to certain conditions. FY2018 underlying EBITDAI is now expected to be between $107 million – $115 million in constant currency terms.
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