Banyan Tree Group announced a smaller net loss after minority interests of $55.2 million in FY2021 compared with $95.8 million in FY2020. Nonetheless, two consecutive years of losses have caused shareholders equity to fall by 14% as at end-2021 to $538 million. On the other hand, operating and free cash flow were positive, as the company registered free cash flow of $114.1 million for FY2021.
“We have worked hard over the last two years to adapt and embed agility through the organisation, knowing that the road ahead is long. We are more prepared than ever, more resilient than we have ever been,” says President Eddy See. “We see improving business metrics across all operating clusters, and are cautiously optimistic for the year ahead.”