Snoozebox anticipates revenues ahead of forecasts

Snoozebox Holdings anticipates full-year revenues to exceed expectations following the success of the leisure company's portable hotel services.

Snoozebox Holdings anticipates full-year revenues to exceed expectations following the success of the leisure company's portable hotel services.

Ahead of the full-year results to be released in April, the company said it expects profits in line with forecasts.

The second half of the year was a particularly profitable period, reflecting a strong trading performance.

Gross margins over the period increased to 38.4% and corporate earnings before interest, taxes, depreciation, and amortization improved.

The group secured a number of new contracts with corporate partners including Merlin Entertainments for the installation of 58 rooms at Thorpe Park in March and a further 117 rooms in July.

"Snoozebox has developed in 2012 from concept to proven product with active demand across a diverse range of applications and territories," Chief Executive Officer Robert Breare said.

"Our team has worked relentlessly to deliver a strong platform in 2012 on which to achieve its growth programme in 2013 and thereafter."

Earlier in the week Snoozebox announced a new joint venture with Archerfield Estates for hotel rooms temporarily placed at the The Walled Garden, East Lothian for the week of the 2013 Open Championship which takes place at Muirfield, adjacent to the Archerfield Estate.

Shares climbed 2.90% to 71.00p at 10:25 Wednesday.

RD

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