Mauritius' Lux Island Resorts first-half profit rises

PORT LOUIS Fri Feb 15, 2013 10:18pm IST

PORT LOUIS Feb 15 (Reuters) - Mauritius' Lux Island Resorts said on Friday first-half pretax profit rose to 36 million rupees ($1.17 million) versus 15 million a year ago, boosted by its Maldives resorts.

The luxury hotel group, which has also resorts in the Maldives and Reunion islands in the Indian Ocean, said tourist arrivals in Mauritius ticked lower by 0.3 percent to 498,690.

Arrivals in the Maldives improved by 3 percent to 495,701 for the six month period to the end of December.

Earnings per share climbed to 0.26 rupees from 0.18 rupees, the company said in a statement.

"Germany and France, both shrank markedly in the last three months of 2012 suggesting that the Euro zone has slipped deeper into recession and throwing a first quarter (of 2013) recovery for the block into doubt," Lux said.

The company said the continuing growth in additional rooms in its Mauritius resorts was also a source of concern given that it was not matched by a corresponding growth in arrivals.

However, the resort said it hoped its third quarter results should show an improvement on last year due to improved efficiency and cost controls, without elaborating.

($1 = 30.6500 Mauritius rupees) (Reporting by Jean Paul Arouff. Editing by Jane Merriman)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-China Ties

REUTERS SHOWCASE

LIC on Markets

LIC on Markets

LIC chairman bullish on Indian markets  Full Article 

Infosys-Huawei

Infosys-Huawei

Infosys partners with China's Huawei for cloud-based services  Full Article 

Gold Outlook

Gold Outlook

Gold imports seen up, premiums likely to double on festive buying  Full Article 

Trade Dispute

Trade Dispute

U.S. to press India on trade row during Modi's Washington visit  Full Article 

Fed Policy Meet

Fed Policy Meet

Fed renews zero rate pledge, but hints at steeper rate hike path  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage