Julius Baumann
1 December 2008
Johannesburg — HOTEL and leisure group Queensgate Leisure Holdings took the bold step on Friday of giving detailed financial forecasts for the next two years in its full-year profit announcement.
Queensgate reported an attributable loss of 91c per share and headline earnings per share of 61c for the period under review.
The group said the results did not reflect the acquisition of Queensgate Leisure Holding. The company, previously known as Cyberhost, bought and reversed into Queensgate on September 1.
The group said it had reviewed the projected income statement it had published in a circular to shareholders .
Queensgate said it expected headline earnings of 1,82c and 3,37c for the 12 months to August next year and 2010 respectively. However, the group qualified its forecast, saying it was based on several key assumptions.
One of these was that the group based its room revenue forecast for its hotel business on existing stock and had not factored in the five new hotels the group planned to develop in the next two years. It also assumed that revenue from food and beverages would be in line with present ratios experienced at its hotel operations, while overall costs would remain in line with present ratios.
Next year's forecast also took into consideration the opening of two new OneWellness centres. It opened its first OneWellness centre at the Cape Town Radisson late last year.
Be the first to Write a Comment!
Copyright © 2008 Business Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
