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4 years ago
Mauritius's Sun Resorts loss widens on fewer tourists, higher costs
August 5, 2013 / 1:47 PM / 4 years ago

Mauritius's Sun Resorts loss widens on fewer tourists, higher costs

PORT LOUIS, Aug 5 (Reuters) - Mauritius-based luxury hotels group Sun Resorts said on Monday its pretax loss widened in the first half due to fewer tourist arrivals from Europe and costs incurred in the launch of one of its renovated units.

Sun Resorts said marketing costs for its upgraded Ambre resort on the east coast had materially affected results, leading to a 112.53 million rupees ($3.6 million) pretax loss in the period through June compared with a loss of 21.44 million a year earlier.

The group, which also sells luxury villas in Mauritius and has a resort in the Maldives, said its loss per share widened to 0.98 rupees from 0.04.

Mauritius's tourism sector, a key driver of the economy and an important source of foreign exchange, has suffered at the hands of a slower than expected recovery in its core European markets.

"Market conditions in the third quarter will remain challenging and we expect the same pattern experienced in the second quarter to persist," Sun Resorts said in a statement.

"However ... bookings for the last quarter are ahead of (the) same date last year and look promising."

$1 = 30.9500 Mauritius rupees Reporting by Jean Paul Arouff; Editing by James Macharia and David Holmes

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