Eden Leisure Group Ltd chairman Ian De Cesare and senior managers recently met with financial institutions and the stockbroking community at an annual review meeting, held at the InterContinental Malta, to discuss the performance of the Eden Leisure Group in 2004.

Mr De Cesare said he was pleased to announce that the group’s preliminary estimates for the year to 31 December 2004 show that it is expecting to report a consolidated turnover, including property sales, in excess of Lm9.7 million, and earnings before interest, depreciation and tax of over Lm2.5 million.

These results represent a significant increase over 2003’s results, with turnover increasing by 23 per cent and earnings before interest, depreciation and tax of 92 per cent.

The entertainment sector had seen a slight fall in turnover of about three per cent due to external factors. However, this sector is expected to move back into positive growth in 2005.

The InterContinental Malta hosted almost 88,000 room nights in 2004, amounting to a 36 per cent increase on 2003. This number accounted for approximately 16 per cent of Malta’s five-star business for the year.

In line with its original plans, the group is expecting this positive trend to continue in 2005. The group is projecting an increase in consolidated turnover of 14 per cent for 2005 and an increase in gross operating profit of about 30 per cent.