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The 26th annual general meeting of this company convened on Thursday, April 25, 2050, at the Nepal Administrative Training Institute in Jawalakhel, Lalitpur. Mrs. Subhadra Shrestha, the president of the company, chaired the meeting. During this gathering, the board of directors presented the annual report for the financial year 2079/080, along with the balance sheet for the end of 2080, the auditor's report, the profit and loss account, and the cash flow statement for the same financial year. Additionally, discussions and comments regarding the financial statements for that period took place.
In the fiscal year 2079/080, Radisson Hotel Kathmandu recorded a total income of Rs. 121.10 crores, with total operating expenses amounting to Rs. 79.48 crores. This resulted in an operating profit of Rs. 41.63 crores, and after all expenses were deducted, a net profit of Rs. 16.09 crores was achieved. Notably, this marked a significant improvement compared to the previous year, which had incurred a loss of Rs. 2.46 crore. The increase in profit can be attributed to a rise in tourist arrivals, and current indicators suggest that this trend will continue in the future.
The company has decided to distribute a cash bonus of 5.27 percent (inclusive of tax) in this financial year. Furthermore, they reported that construction of the new company building is progressing rapidly, with the goal of completion by year-end. The main building's 3rd, 4th, and 5th floors are also scheduled for reconstruction and modernization this year.
It's worth noting that the general meeting took place three months after the end of the financial year, highlighting the company's commitment to transparent financial reporting, both quarterly and annually, as mandated by Nepal Financial Reporting Standards (NFRS), which align with International Financial Reporting Standards (IFRS).
The meeting's chairperson expressed gratitude to all shareholders and stakeholders, assuring them that the hotel will continue to operate in line with the suggestions received from shareholders.
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