Sharechat Logo

Good Spirits Hospitality Limited (NZX: GSH) Half Year Results to 31 Dec 2020

Monday 1st March 2021

Text too small?

Good Spirits Hospitality Limited reports its financial performance for the six month period ended 31 December 2020.

Overall, GSH is pleased to have weathered so far, the disruption caused by the COVID-19 pandemic which has heavily impacted the hospitality industry. Although GSH expects some further disruption as seen by the February 2021 lockdown we believe we are well placed to capitalise on GSH’s compelling market offering together with acquisition opportunities that will present themselves.

As GSH’s Chairman, Duncan Makeig, stated at GSH’s recent AGM, GSH intends to pursue profitable growth through both same venue growth and accretive acquisitions. The later being evidenced by GSH’s conditional acquisition of three well regarded venues in Wellington’s CBD (see NZX announcement dated 17 February 2021).

Key points include:

− Covid-19 disruptions during the six month period have impacted revenue and profitability

− Operating profit before significant items and IFRS 16 impacts of $1.14m down from 2019 ($1.99m)

− Net cash from operations of $1.6m down from 2019 ($2.6m)

− The Group reported an unaudited net loss after tax of $121k (2019: $292k profit) for the six month period

− No interim dividend is declared

Please see the links below for details:

Half Year Results Announcement

GSH - 31 Dec 2020 Financial Statements

GSH - 31 Dec 2020 NZX Announcement

Source: Good Spirits Hospitality Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Pacific Edge Limited (NZX: PEB) United Healthcare Issues Positive Coverage Cxbladder
Scott Technology Limited (NZX: SCT) 2021 Half Year Announcement
NZX Limited (NZX: NZX) Appoints Specialist Global Expert to Tech Committee
AFT Pharmaceuticals Limited (NZX: AFT) Secures New Partners in Poland and Greece
Radius Residential Care Limited (NZX: RAD) Christchurch Property Development Update
Air New Zealand Limited (NZX: AIR) Welcomes Announcement of Tasman Bubble
Accordant Group Limited (NZX: AGL) Intention to Acquire up to 1,000,000 Ordinary Shares
Millennium & Copthorne Hotels New Zealand Limited (NZX: MCK) Update on Proposed Whangarei Hotel Development
Contact Energy Limited (NZX: CEN) Buys Geothermal Specialists Western Energy Services
Chorus Limited (NZX: CNU) Notice to Dividend Reinvestment Plan Participants