New Mauritius Hotels Tumbles Most Since 2008 as Loss Widens

New Mauritius Hotels Ltd. (NMH), the country’s largest leisure operator by market value, declined the most since November 2008 after reporting its loss widened in the third quarter.

The stock retreated 8.9 percent to 62 rupees by the 1:30 p.m. close in Port Louis, the capital. The share price is lowest since March 2009, according to data compiled by Bloomberg.

New Mauritius Hotels said yesterday that its loss in the three months through June widened to 177.2 million rupees ($5.7 million) from a loss of 133 million rupees a year earlier, according to a statement published on the Stock Exchange of Mauritius website after the market closed.

New Mauritius shares have retreated 24 percent this year, compared with an 8.1 percent fall in the 38-member SEMDEX (SEMDEX) gauge.

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

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

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