Barkby Says FY 2022 Revenue Rose; Plans Strategy Shift to Property Development

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By Joe Hope

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Barkby Group PLC on Monday reported a rise in revenue and a swing to positive Ebitda earnings for fiscal 2022, and said that it plans to change its business strategy to focus on property development.

The hospitality group said revenue for the year ended July 2 is expected to reach 19.4 million pounds ($23.0 million) compared with GBP15.1 million in the previous year.

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On a continuing basis, revenue is expected to rise to GBP10.4 million from GBP2.8 million.

The diversified company expects to post earnings before interest, tax, depreciation and amortization of GBP1.6 million compared with a loss of GBP2.5 million for the prior year. Ebitda on a continuing basis is expected to be GBP2.5 million, swinging from a loss of GBP1.5 million in fiscal 2021.

Barkby said it has resolved to sell certain non-core divisions and investments.

With the exception of Barkby Pub Co., the company intends to dispose of all business unrelated to its property development business, which it said has underpinned its performance to date.

“The performance of the group since the lifting of all Covid-19 related restrictions in February 2022 has been hugely positive and we look forward to the next financial year with confidence,” Executive Chairman Charles Dickson said.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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