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New Mauritius Hotels posts 11.6 pct rise in annual pretax profit
December 17, 2014 / 8:31 AM / 3 years ago

New Mauritius Hotels posts 11.6 pct rise in annual pretax profit

PORT LOUIS, Dec 17 (Reuters) - Luxury hotel group New Mauritius Hotels reported an 11.6 percent increase in full-year pretax profit on Wednesday but said it expected a weaker performance this quarter due to unfavourable exchange rates versus the euro and South African rand.

A 4.1 percent increase in tourist arrivals helped boost annual pretax profits to 488.85 million Mauritius rupees ($15.53 million) for the year to Sept. 30 from 437.83 million the previous year, NMH said.

The company owns eight hotels in Mauritius, one in the Seychelles and another in Morocco.

“Tourist arrivals in Mauritius grew by 4.1 percent with the Chinese market accounting for 70 percent of that growth,” the company said.

“The results for the first quarter should be lower than those of the previous year considering the prevailing unfavourable exchange rates of the euro and the rand,” it said.

NMH said its resorts in Mauritius performed better than the national average with their occupancy rate improving by 10 percent and revenue per available room up 5 percent.

Earnings per share rose to 2.84 rupees from 2.34 rupees.

Shares in NMH were down 3.9 percent at 79.75 rupees at 0820 GMT.

$1 = 31.4700 Mauritius rupees Reporting by Jean Paul Arouff; editing by Edith Honan and Jason Neely

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