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Mantra Group Beats Prospectus Forecasts in Every Way

Mantra Group Beats Prospectus Forecasts in Every Way
Aug 27, 2015 By Ben Visser

Australia’s second largest accommodation provider, Mantra Group (ASX:MTR), released its full FY15 results, beating prospectus forecasts and providing promising FY16 guidance.

The company reported total revenue of $498.8 million, up 9.7 per cent on the previous corresponding period (pcp). Net profit after Tax (NPAT) came in at $36.2 million, up $36.5 million on the pcp, and Net Profit After Tax adjusted for lease amortisations (NPATA) came in at $38.9 million, up $36.5 million on the pcp. Earnings before interest, tax depreciations, amortization and impairment (EBITDAI) came in at $73.1 million, up 19.2 per cent on the PCP, and the EBITDAI margin also gained coming in at 14.7 per cent compared to 13.7 per cent for the pcp. All reported figures came in ahead of 2015 prospectus forecasts.

The company’s basic EPS came in at 14.2 cents per share, compared to EPS of (0.3) in the pcp. NPATA basic EPS came in at 15.3 cents per share compared to 1.9 cents in the pcp.

Mantra will pay a final fully franked dividend of 5 cents per share on 6 October 2015, bringing the years total dividends to 10 cents per share. The record date for the final divided is 3 September 2015.

During FY15 Mantra added eleven properties to it’s portfolio and a further five properties were added in July 2015.

Looking into FY16, the company expects growth across the CBD, Resorts and CRD segments as the company continues to grow its portfolio. FY16 forecasts for EBITDA is $84 -$87 million, NPAT $40 - $42 million and NPATA $42.5 - $45 million.

The company’s share price has experienced healthy growth over the last twelve months, however has seen some declines since the end of May. This is likely due to market wide trading conditions and with results today coming in above prospectus forecasts, it is reasonable to expect some form of appreciation in Mantra’s share price.

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Ben Visser Author: Ben Visser Aug 27, 2015

Ben is a Wise-owl equity analyst focusing on ASX blue-chips stocks. Ben has a Bachelor of Business in Finance majoring in property valuations and management. In his role at Wise-owl Ben conducts in-depth fundamental and technical analysis which helps him to find profitable investment opportunities on the ASX and abroad.

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