MWB Group saw its losses widen in 2009 to £15.4m, following a £9.9m loss in 2008, the company revealed in its full-year results this week.
But the hotel, retail and property group said that the value of its property assets had “stabilised” during the year at £559.5m.
A first-half drop of £8.2m had been counteracted by a strong second-half performance, which resulted in a full-year decline of £2.1m.
MWB said that trading was steady at its Malmaison and Hotel du Vin chains, while its 2009 EBITDA of £26.6m had matched that of 2008.
The group’s London department store Liberty posted record turnover of £60.8m in 2009 – up 20% on 2008. Its flagship building has been sold for £41.5m in a sale-and-leaseback.
