Eden Leisure Group has registered earnings before interest, tax and depreciation (EBITDA) of €4.4 million for 2010, up 10 per cent on 2009.

Turnover increased six per cent from €19.3 million in 2009 to €20.4 million.

Group managing director Ian De Cesare told a meeting for the financial and stock broking community that its St Julian’s property, the Intercontinental Malta, made significant strides from 2009 as tourism figures continued to improve. The hotel increased gross operating profit for the year by 42 per cent, with increases registered in both occupancy and room rate.

Mr De Cesare added that the hotel business continues to be positive this year, with the first quarter registering strong results. Conference bookings for 2011 have been “very positive” over the first two quarters. However, he expressed caution about the regional uncertainty caused by the Libyan crisis, which to date has had a limited negative effect on bookings.

He said the group continued to invest in the refurbishment of guest rooms to keep them in line with developing standards and to improve guests’ experiences.

The group’s entertainment segment continued to contribute significantly to the group’s profits, Mr De Cesare said. There was a marginal decline in both revenues and gross operating profit from 2009 but notable improvements were registered at Eden Cinemas, which saw a significant increase in revenue and gross operating profit due to improved film product and the introduction of 3D technology in the cinema’s three largest screens.

The group is expected to continue to register improvements in both revenue and gross operating profit this year, particularly given the strong results to date, the managing director said.