The financial results of the Island Hotels Group for the first six months of the year, the low period of the group’s trading cycle, were, as expected, significantly affected by the planned closure for refurbishment of the Radisson Blu St Julian’s, the company said in its interim results.

The hotel re-opened for business on March 30 and trading results being reported since opening are ahead of budgets. Most of the other operations within the group have shown improvement over the same period last year.

During the six months ended April 30, 2015, the group reported a turnover from continuing operations of €2,066,307 (2014: €4,625,381) and loss before interest, taxation, depreciation and amortisation from continuing operations of €927,020 (2014: €265,894).

The net loss for the period from continuing operations amounted to €2,188,465 (2014: €1,063,547). The net loss for the period after the loss from discontinued operations amounted to €2,220,958 (2014: €1,666,439).

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