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New Mauritius Hotels Expects Trading Conditions to Worsen

Aug. 7 (Bloomberg) -- New Mauritius Hotels Ltd., the Indian Ocean island nation’s biggest leisure operator by market value, said its loss widened in the third quarter and expects trading conditions to worsen.

The loss increased 33 percent to 177 million rupees ($6 million) in the three months through June from the previous quarter, it said in a statement on the Port Louis-based Stock Exchange of Mauritius’s website today. Revenue rose 9.7 percent to 1.59 billion rupees, it said.

Tourist arrivals from Europe, the country’s main market, declined 6 percent in the six months through June, according to Statistics Mauritius.

“With this expected deterioration in market conditions and based on the present trend on bookings, overall results for the current financial year are expected to be lower than those of last year,” the company said.

New Mauritius Hotels, which trades under the Beachcomber name, said profit declined 5.6 percent to 726.8 million rupees for the nine months through June from a year earlier.

The stock was unchanged at 68 rupees by the close in Port Louis. It has declined 17 percent this year,

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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