Island Hotels Group Holdings plc have reported a record €8.8 million earnings before interest, taxation and amortisation for the financial year which ended last October – a 46 per cent increase over 2013.
The group’s turnover increased by 19 per cent, to €36.6 million. Net profit reached €2.7 million from €555,000 in 2013 and shareholders’ funds increased to €40.3 million.
The group’s entire shareholding is to be sold to International Hotel Investments plc in a deal expected to be finalised later this year.