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Mauritius Lux Island Resorts posts 23 pct profit jump
February 12, 2016 / 1:33 PM / 2 years ago

Mauritius Lux Island Resorts posts 23 pct profit jump

PORT LOUIS, Feb 12 (Reuters) - Mauritian hotel group Lux Island Resorts’ second-quarter pretax profit rose by nearly 23 percent year on year to 327.82 million rupees ($9.26 million) on higher tourist arrivals, it said on Friday.

The company is benifiting from a growth in a tourism sector that is a key source of hard currency for the Indian Ocean island nation known for its spas and beaches and which is expected to attract up to 10 percent more visitors this year.

The luxury hotel group, which also has properties in the Maldives and Reunion, said occupancy rates nudged up to 83 percent, lifting group earnings in the three months to Dec. 31.

Revenue rose to 1.54 billion rupees from 1.36 billion, with earnings per share climbing to 2.11 rupees from 2.06 rupees.

The company said that both occupancy and the average daily rate for the current quarter for its Mauritius properties are ahead of last year.

Performance of its Reunion unit is expected to be similar to last year, while visitor numbers in the Maldives are also on the rise, the company added. ($1 = 35.4100 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by George Obulutsa and Susanna Twidale)

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