Sun of Mauritius Expects to Return to Profitability in 2017
- Hotel chain posted a 567-million rupee full-year loss
- Plans to issue 3 billion-rupee bonds to convert debt
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Sun Ltd, Mauritius’ third-biggest hotel group by market value, expects to swing back into the black in 2017 after posting a 567 million-rupee ($16 million) loss in the year through June, Chief Executive David Anderson said.
The loss followed higher finance costs related to acquisitions and renovation work, Anderson told analysts near the capital, Port Louis, on Thursday. Sun’s net debt increased by 2.35 billion rupees to 9.8 billion rupees in the year.