Mauritius' Lux Island Resorts eyes Asia for growth, profit up 6.4 pct

PUBLISHED: Thu, 01 Sep 2016 12:40:30 GMT

Mauritius hotels group Lux Island Resorts is targeting Asia for future growth, its CEO said, after the firm reported a 6.4 percent rise in its pre-tax profit for the full-year ended June.  

Pre-tax Profit climbed to 480.93 million rupees ($13.70 million) for the year to June, from 451.59 million rupees in the previous period, helped by an 11 percent surge in tourist arrivals.

Tourism is a major source of foreign currency for the Indian Ocean island known for its luxury spas and beaches.

“I think over the next 10 years we will have between 20 to 25 hotels in Asia including China,” Paul Jones told Reuters.  

Revenue in the year to June improved to 5.15 billion rupees from 4.65 billion rupees despite the disruption of renovation works on one of its units in Maldives.

Although the global economic environment remains uncertain following Britain’s vote to exit the EU, the firm said in a statement it is confident its ambition to expand will ensure long-term growth.

($1 = 35.1000 Mauritius rupees)

(Editing by Elias Biryabarema)

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