Bloomberg News

Naiade of Mauritius Sees Earnings Growth as Profit Advances

September 29, 2011

(Updates with comment from CEO in second paragraph.)

Sept. 29 (Bloomberg) -- Naiade Resorts Ltd., Mauritius’s third-largest hotel operator by market value, said it expects a further improvement in earnings in the year ahead after sales jumped 23 percent in the 12 months through June.

“The future looks positive,” Chief Executive Officer Paul Jones told reporters today in the capital, Port Louis. “Bookings for the high season are better than last year.”

Naiade, which changed its year-end from December, said operating profit was 353 million rupees ($12.2 million), up from a loss of 207.7 million rupees a year earlier. Sales increased to 3.8 billion rupees from 3.1 billion rupees.

--Editors: Hilton Shone, Alastair Reed

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net


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