Mauritius' Lux Resorts pretax hurt by financing costs

PORT LOUIS (Reuters) - Mauritius hotels group Lux Island Resorts posted a drop in pretax profit for the year ended June to 14.26 million rupees from 45.95 million a year before, reflecting higher finance costs, it said on Friday.

The luxury hotel group, which has properties in the Maldives and Reunion islands as well as on the Indian Ocean island itself, said occupancy rates rose by 1 percentage point to 72 percent.

Revenue increased to 3.71 billion rupees from 3.10 billion and earnings per share climbed to 0.24 rupees from 0.07, the company said in a statement.

"With regard to the current low season, we are experiencing negative growth, however management has contained costs and maximised efficiencies and we expect earnings ... to approximate that of last year," Lux said in a statement.

The results were issued after the market closed. Shares of the firm had closed the session unchanged at 15 rupees.

Source: http://news.yahoo.com/mauritius-lux-resorts-pretax-hurt-financing-costs-131435979--finance.html

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