Southern Cross posts losses of Rs148M

Southern Cross Tourism Company Ltd has posted losses of Rs148M for the period ended 30 June 2021, compared to Rs 90M for the same period last year.

Southern Cross is listed on the Stock Exchange of Mauritius. It owns and manages Preskil Island Resort at Pointe Jerome, Mahebourg, Solana Beach Mauritius at Belle Mare and Astroea Beach at Pte d’Esny.

The Group generated Rs 56M of revenue from its operations as quarantine centres for the period ended 30 June 2021. The group recorded a net foreign exchange loss of Rs 23M.

Meanwhile, the Union Sugar Estates Co. Ltd. engaged in the cultivation of sugar cane and other agricultural products – also the parent company of Southern Cross – has posted profits from continuing operations of Rs 73M for the first semester 2021 compared to Rs 4M for the same semester last year.

The revenue of the group amounted to Rs31M which was at par with last year.

The Group’s operating results for the first semester improved from a loss of Rs 10M last year to a profit of Rs 4M in 2021.