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Hotel group posts over Rs1 billion losses, declares dividends

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Hotel group posts over Rs1 billion losses, declares dividends
Photo: Constance Group

BMH Holding Ltd (ex-Belle Mare Holding) has declared a final dividend of Re0.45 per share payable to shareholders registered at the close of business on 19 January 2022 in respect of its financial year ending 31 December 2021. BMH is part of the Constance Group.

The dividend will be paid on or about 4 February 2022, the company said in a notice published on the website of the Stock Exchange of Mauritius on December 30.

On the same day, BMH Ltd posted its Abridged interim unaudited financial statements for the periods ended March 31, June 30, and September 30, 2021.

As at March 2021, it had posted losses of Rs375 million.

For the 6 months period up to June 2021, losses rose to Rs694million.

For the nine months period up till September 2021, losses soared to Rs1.094billion.

For the 12 months up to December 2020, it had declared losses of Rs1.43 billion.

BMH commented that its group results, which largely consolidates the activities of Hotelest Ltd, the 51% shareholder of Constance Hotels Services Ltd (CHSL), “reflects the difficult performance of operators in the tourism sector. Revenues for the period mainly attributable to CHSL’s activities in the Maldives, were lower than the year 2020 where all destinations were operating for the first 3 months.”

BMH declared a dividend of Re0.45 per ordinary share (2020: Re0.40).

The shares of the company will be traded cum-dividend up to the market day of 13 January 2022 and ex-dividend as from 14 January 2022.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.