Mauritius’ Sun Resorts pretax loss narrows on improved occupancy
PORT LOUIS (Reuters) – Mauritius’ Sun Resorts reported a narrower nine-month pretax loss helped by higher tenancy rates from a year earlier, and anticipated an improved annual performance.
The tourism sector in the Indian Sea island state is a key driver of the economic situation as well as a vital source of forex. On the whole, the industry has actually struggled due to a slower compared to anticipated recovery in its core European markets.
Nevertheless, vacationers arrivals increased 4 percent in the first half of 2014 from the previous year, largely astride higher arrivals from Asia, main numbers showed in July.
The luxury hotels and resort group on Thursday posted a 391.82 million rupees ($12.48 million) pretax loss in the nine-month duration through September, compared with a 405.51 million rupees loss from a year earlier.
Its loss per share narrowed to 3.54 rupees from 3.61 rupees, the team said in a statement.
Nevertheless, the team’s shares fell 1.1 percent to 45 rupees, with analysts stating investors had actually expected much better results.
Occupancy got to 67.4 percent in this quarter, from 54.8 percent a year ago, and also the company stated it anticipated the current booking pace to proceed in the following quarter.
Sun Resorts claimed the significant growth in earnings accomplished throughout the prior 2 quarters was encouraging as well as would certainly lead to an improved year-on-year performance.
(1 US dollar = 31.4000 Mauritius rupee)
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