Mauritius' Lux Island Resorts first-half profit rises
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)
- Tweet this
- Share this
- Digg this
- Pistorius starts five-year term for killing Reeva Steenkamp
- Indiana police charge suspect who may have killed for decades
- UPDATE 11-Total CEO de Margerie killed in Moscow as jet hits snow plough
- India warns Pakistan of more pain in Kashmir fighting
- Govt orders Financial Tech to absorb NSEL, liabilities
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article