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Mantra AGM reveals 21.6% revenue increase

Mantra Group chairman Peter Bush reiterated the group’s year end 2016 results which saw a total revenue of $606.1 million representing a 21.6% increase on FY2015.

“Underlying NPAT was $43.8 million, up $7.6m on FY15 and underlying EBITDAI of $89.8 million representing a significant 23.0% increase on FY15,” said Mr Bush.

At the time of writing, Mantra Group’s shares were trading at $3.20 per share – an increase of 78% since listing on 20 June 2014.

“This strong performance is driven by acquisitions, targeted product improvement, strong performances in each of the operating segments, a focus on cost control and improved efficiencies,” he said.

Mantra Group chief executive officer Bob East said the Group is committed to driving its pipeline growth and development opportunities, exploring diversified acquisition models and delivering quality room inventory and hotel and resort facilities.

“These strategies aim to capitalise on the forecasted growth in the tourism sector driven by increases in international visitors, primarily out of Asia,” said Mr East.

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