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Mauritius' Sun Resorts swings to Q2 profit as occupancy recovers

August 19, 2015 Comments Off on Mauritius' Sun Resorts swings to Q2 profit as occupancy recovers

Mauritius-based Sun Resorts swung to a pretax profit of 265.8 million rupees ($7.5 million) in the second quarter of the year due to higher room occupancy rate as tourism in the Indian Ocean island state recovered slightly. Sun Resorts, which also operates in the Maldives, posted a pretax loss of 143.02 million rupees in the second quarter of 2014 as the vital tourism industry struggled mainly due to the economic slowdown in its main markets in Europe. The group said room occupancy rose to 71.9 percent in the three months to end-June, from 61.1 percent a year earlier. However, it said revenue was down 15.8 percent to 753.28 million rupees compared with the same period last year due to the impact to the closure of two of its units since April. The group is renovating its Le Touessrok hotel and Four Seasons in Mauritius, it said in a statement. Earnings per share rose to 2.92 rupees in the second quarter of this year against a loss per share of 1.29 rupees. In March 2014, the group changed its financial year-end from December 31 to June 30. The group’s shares rose 0.26 percent to 39 rupees.
Reuters

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