Subscribe & Follow
City Lodge's earnings up 14% to 330.5c
![City Lodge is to pay shareholders an interim dividend of 202c a share. Image:](https://biz-file.com/c/1402/177253.jpg)
Revenue was up 9% to R533.9m on a slight rise in average occupancies from 63% to 64% and higher room rates achieved. Normalised operating profit was up 11% while the interim dividend rose by 15% to 202c.
City Lodge said trading conditions in the review period were mixed‚ affected by muted business and consumer confidence.
"The Road Lodge brand was particularly affected by pressure on consumers and small businesses‚ but continued to achieve the highest overall occupancies of the group's four brands‚" it said in a statement.
Chief executive Clifford Ross said trading was expected to remain mixed in the second half of the financial year with business confidence likely to be subdued in the lead-up to the general elections in May.
"Beyond that‚ we believe that occupancies will continue to improve because of a lack of new accommodation capacity and improved demand‚" Ross said.
City Lodge Hotel operates 55 hotels offering 6‚755 rooms in South Africa‚ Kenya and Botswana.
Source: I-Net Bridge
![](https://biz-file.com/b/1206/36520.gif?3)
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za![](/res/img/s.gif)