A WORD FROM THE CEO

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Pleasingly, we achieved another year of growth against a background of considerable political upheaval leading up to and following the Brexit vote. It was a shock to many waking up to the realisation that the the voting public wanted out of Europe; markets were nervous and paused whilst the dust settled. Fortunately trade bounced back quickly with little change in relations with our European cousins, but the real outcome will only become apparent over the next few years.

Growth came in all areas of our business with the exception of bedrooms which suffered from low demand in the early part of the year, resulting in rate reduction in order to build occupancy. The arrival of Natalie, our new HR director, has improved our HR service, providing among other initiatives a paper –free, web based platform.

This modern approach to employee  communications included the launch of myhomehouse.co.uk with added benefits and rewards, e-sign contracts and letters. There was also a full uniform refresh; the team are all looking super smart and, I feel, standing a little taller.

Andrew Richardson, CEO

IMPORTANT EVENTS IN 2016

FAIRFORD´S VIEW

Home House gives us exposure to the vibrant London consumer market and the upper end/luxury category of spend, driven partly by HNWI tourism, seems to know few limits which makes it an interesting segment for investment and further exploration. The majority of revenues are derived from food and beverage sales which have provided resilient during periods of economic uncertainty.

Underpinning the business is an exposure to the long leasehold property market in London which continues to show strength due to international demand. We have a strong platform in place to continue to explore a broadening of our exposure in this sector and to gain benefit from economies of scale.

 

Revenue, EBITDA

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Equity Ratio, ROCE

Equity Ratio, ROCE graph