UK: Frasers Hospitality UK Holdings has posted a £90.8 million pre-tax loss for the year to September 2018.
The company’s financial results for the year, filed with Companies House, show the £90.8 million loss compared with £187,000 the previous year. Turnover for 2017/18 was £144.6 million compared with £144.9 million the previous year.
In the report, director Guus Bakker said: “In the past year the group has operated in some of the most challenging trading conditions seen for over a decade. With the continuing uncertainty around the both the macroeconomic environment and the challenges facing the UK hospitality industry in particular, the directors acknowledge that the group faced headwinds in the markets in which it operates.”
Bakker added that the directors are confident in the group’s ability to “navigate through this period of economic uncertainty” and described the group’s performance as “resilient”.
It invested £20 million in its properties during the period and continues to seek new sites across the UK. It is in negotiations around a further five opportunities with openings scheduled for 2019 and beyond.
Frasers Hospitality operates 10 serviced apartment properties in the UK, as well as 15 Malmaison and 19 Hotel du Vin hotels.
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