Bloomberg News

Mauritius’s Sun Resorts Drops Most in 6 Weeks as Loss Widens

November 15, 2011

Nov. 15 (Bloomberg) -- Sun Resorts Ltd., Mauritius’s second-largest leisure operator by market value, declined the most in almost six weeks after announcing a widened third- quarter loss.

The stock retreated 3.7 percent or 2 rupees, its biggest intraday slump since Oct. 5, to 52 rupees by 11:43 a.m., in Port Louis, the capital.

Sun Resorts, which owns four hotels in Mauritius and one in Maldives, posed a loss of 172.5 million rupees ($5.9 million) for the three months through September, compared with a loss of 133 million rupees a year earlier, according to a statement published on the Stock Exchange of Mauritius website today.

“The resurgence of the Eurozone economic crisis and high airfares out of Europe continue to impact heavily on the industry in Mauritius,” the Ebene-based group said.

--Editors: Peter Branton, Ash Kumar

#<266854.7081942.2.1.95.14779.96>#

#<777506.4933480.2.1.95.14779.25># -0- Nov/15/2011 08:06 GMT

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


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus