Mauritius’ Sun Resorts records improvement in operating performance
Mauritian hospitality major Sun Resorts Ltd released its financial results for the 18 month period to 30 June 2015 showing a profit after tax of Rs 315 million upon better occupancy rate and higher revenue generation per room,despitethe fact that two of its hotels were under renovation.
Mauritian hospitality major Sun Resorts Ltd released its financial results for the 18 month period to 30 June 2015 according to the change of fiscal year decided in March 2014, showing a turnover level of Rs 6.2 billion and profit after tax at Rs 315 million.
The group had incurred Rs 31.8 million losses in 2013. However, to facilitate comparability of its data and the analysis of its results, the group prepared proforma accounts for the last twelve months.
These highlight a clear improvement in its operating performance with the hotel occupancy rate rising 14 points to 76.3%.
Moreover, revenue per room rose 10% to Rs 8,028 and operating profit increased by 51% to reach Rs 418.6 million, representing a gain of about 3 points for the operating margin which increased from 6.8% to 9.7%.
It is noteworthy that this improvement in performance has been registered in a period where two of the hotels of the group have been closed for renovation —the two properties in question being Le Touessrok since April 15th and the Four Seasons Resort Mauritius at Anahita since May.
An effective commercial policy helped Ambre Resort and Spa recover, and compensated for the negative impact of the second quarter results.
Besides, during the same quarter, the cost structure benefited from a strategic reduction of Rs 210 million. Indeed, the group was able to partly allocate the Rs 1.2 billion increase in capital that was realised in February from the refund of all its short-term credit lines.
Finally, Sun Resorts benefited from exceptional profits of about Rs 507 million, which widely compensated for costs of transactions, restructuring and closure over the period.
Commenting on the result, Sun Resorts CEO Philippe Cassis declared: “This performance demonstrates that our strategy, driven with a disciplined approach, is bearing fruit. The group has indeed seen profitable growth which is going to allow the company to pursue its development. The teams are completely mobilised for reaching their goal, while 2016 will be another year of transition, with the reopening of the Shanrgi-La Le Touessrok and end of works at Kanuhura. The continued implementation of our strategic plan 2014-2019 should thus witness new advances, thanks to a more solid and focused organisation structure.”
Besides, the group will gather shareholders in a general meeting on September 24, 2015, to propose a change of identity that will complete its transformation. Its strategic plan proposes to group the hotel business in four clusters: hotels and resorts, hotel services, development real estate and hotel management.
About Sun Resorts:
Sun Resorts is a leading hospitality group inthe Indian Ocean. Sun Resorts possesses and manages 6 hotels in Mauritius and in the Maldives for which it employs 3,500 people.
Sun Resorts has sales offices in Paris, London and Frankfurt, and representative offices in Madrid, Milan, Moscow, Shanghai, Beijing and Mumbai.
Sun Resorts also possesses two travel agencies under the aegis of World Leisure Holidays in South Africa, which has exclusivity over the promotion of Sun Resorts hotels in this market.