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New Mauritius Hotels pretax profit up 10.8 pct in first half
May 8, 2017 / 1:52 PM / 7 months ago

New Mauritius Hotels pretax profit up 10.8 pct in first half

PORT LOUIS, May 8 (Reuters) - Luxury hotels group New Mauritius Hotels (NMH) reported a 10.8 percent rise in first-half pretax profit on Monday, helped by an increase in tourist arrivals to the Indian Ocean island.

The group, which owns nine hotels in Mauritius, one in the Seychelles and another in Morocco, said pretax profit was 850.66 million rupees ($24.69 million).

“Occupancy rate increased marginally to 75 percent whilst average revenue per guest remained at par with the previous year,” NMH said in a statement.

Revenue fell to 5.692 billion rupees from 5.934 billion rupees, dented by the weakening euro and sterling currencies.

NMH said the closure of one of its units, together with the continued weakness of the euro and the British pound, will have a negative impact on results for the coming months.

The tourism sector is a key driver of the Indian Ocean island’s $10 billion economy.

$1 = 34.4500 Mauritius rupees Reporting by Jean Paul Arouff; Editing by Aaron Maasho

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