ENL back on the road to profitability

The results of ENL Group for the third quarter and nine months ended 31 March 2022 have shown a marked improvement over the same period last year.

The Group’s turnover increased by 43% and recorded Rs 608million of profit after tax compared. It posted a loss of Rs 1.3 billion last year.

All the operating segments reportedly posted improved results and most notably Hospitality.

“The good occupancies coupled with higher guest night spending resulted in the segment posting a profit after tax of Rs 14m as against a loss of Rs 1.6 billion last year,” it said.

ENL has  launched a new mixed-used development at Telfair with the construction of four buildings covering some 20,000 sqm.