Dalata Hotel Group (DAL) kept true to its word by initiating dividend payments in 2018, declaring a 7 cent full-year distribution on top of the 3 cent payment doled out at the half-year mark. Chief executive Pat McCann said the Irish hotel group will continue to return between 20 per cent and 30 per cent of after-tax profit to shareholders.
The group added more than 1,150 rooms over the year in Dublin, Belfast, Cork, Galway and Newcastle, and another 2,190 rooms are in the pipeline. Those that are already open generated revenue per available room of €94.13 (£81.85), an increase of 4.7 per cent on the previous year, with occupancy 60 basis points higher at 83.7 per cent and the average room rate up 4 per cent to €112.51.
Analysts at Goodbody expect EPS of 43.8¢ during 2019, up from 40.2¢ in 2018.
| DALATA HOTEL GROUP (DAL) | ||||
| ORD PRICE: | 516p | MARKET VALUE: | £951m | |
| TOUCH: | 503-525p | 12-MONTH HIGH: | 650p | LOW: 391p |
| DIVIDEND YIELD: | 1.7% | PE RATIO: | 15 | |
| NET ASSET VALUE: | 490¢ | NET DEBT: | 30% | |
| Year to 31 Dec | Turnover (€m) | Pre-tax profit (€m) | Earnings per share (¢) | Dividend per share (¢) |
| 2014 | 79 | 4.0 | 3.7 | nil |
| 2015 | 226 | 28.5 | 14.6 | nil |
| 2016 | 291 | 44.1 | 19.1 | nil |
| 2017* | 352 | 77.3 | 37.2 | nil |
| 2018 | 394 | 87.3 | 40.9 | 10 |
| % change | +12 | +13 | +10 | - |
| Ex-div: | 11 Apr | |||
| Payment: | 08 May | |||
| £1=€1.16 *Turnover restated for IFRS 15 accounting standards | ||||
