February 12, 2016 / 10:18 AM / in 2 years

New Mauritius Hotels reports profits jump

PORT LOUIS, Feb 12 (Reuters) - Luxury hotel group New Mauritius Hotels reported on Friday a 40 percent rise in pretax profits in the last three months of 2015, thanks to a higher occupancy rate.

A 74 percent occupancy rate against 65 percent a year earlier helped boost pretax profits in the three months, the company’s fiscal first quarter, to 654.45 million rupees ($18.48 million) from 461.98 million in the same period of 2014.

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

“The number of guests hosted by the group’s hotels in Mauritius increased by 13.7 percent during the quarter whilst at national level the growth in tourist arrivals was 11.1 percent,” NMH said.

Earnings per share rose to 1.07 rupees from 0.86 rupees.

The company said although its operations in Marrakesh will continue to be challenging, the improvement in results for the second quarter to March 2016 should be in line with that of the first quarter. ($1 = 35.4100 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by Greg Mahlich)

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