Connect with us

Business

Hilton Hotel owner still making losses, secures funding for next 12 months

Published

on

Hilton Hotel owner still making losses, secures funding for next 12 months

Morning Light Co. Ltd, which owns the Hilton Mauritius Resort & Spa, continues to be loss-making.

Its latest financial statements revealed that revenue for the quarter and half year ended 30 June 2022 amounted to Rs114.9million (2021: Rs0.2million) and Rs216.9million (2021: Rs21.4million) respectively.

The loss after taxation decreased to Rs15.0million and Rs22.9million for the quarter and half year ended 30 June 2022 respectively from a loss of Rs30.9million and Rs68.5million for the quarter and half year ended 30 June 2021 respectively.

Based on the cash flow forecast for the next 12 months and the funding it claimed to have secured so far, the company said it will be able to meet its financial obligations for the foreseeable future.

It said it is hopeful for an increasing number of tourist arrivals as well as demand for events and conferences.

“However, the ongoing uncertainty in economic conditions and the high inflationary environment in which we operate will continue to impact on the profitability of the business,” it said.

Bookmark (0)

No account yet? Register

Spread the News
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.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

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.