Bloomberg News

Mauritius’s LUX Island Sees Revenue Growth in Third Quarter

February 09, 2012

(Updates with comments by chief executive officer in second paragraph.)

Feb. 9 (Bloomberg) -- LUX Island Resorts Ltd., Mauritius’s third-biggest leisure operator by market value, said fiscal full-year earnings will increase from a year earlier, boosted by higher sales.

The three months to March “looks positive,” Paul Jones, chief executive officer of the Floreal, Mauritius-based company, said in an interview. Results for the year will be “definitely better than last year.”

Operating profit in the second quarter rose 12 percent to 247 million rupees ($8.5 million) compared with a year earlier, Jones told reporters in the capital, Port Louis. Revenue for the three months through December jumped 15 percent to 1.11 billion rupees.

Tourism revenue in the Indian Ocean island nation climbed 8 percent to 37.9 billion rupees in the 11 months through November, according to the Bank of Mauritius. New Mauritius Hotels Ltd. and Sun Resorts Ltd. are the biggest hotel operators in Mauritius.

LUX Island, which owns and manages hotels in Mauritius, Reunion Island and Maldives, plans to seek more tourists from emerging-market countries because a debt crisis in Europe, the source of almost two-thirds of travelers last year, Julian Hagger, the company’s chief sales and marketing officer, said.

“We are moving into dollar-denominated markets which will allow the group” to maintain the growth trend in revenue, he said.

The stock, which has dropped 11 percent this year, was unchanged at 23.20 rupees by the close on the Stock Exchange of Mauritius.

--Editors: Gordon Bell, Vernon Wessels

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


Too Cool for Crisis Management
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus