Sun Ltd Demonstrates Financial Recovery with 57.5% Revenue Increase

Sun Ltd, a subsidiary of the Ciel Group, has shown remarkable financial improvement as of June 30th.

The company experienced a substantial surge in revenue, marking a 57.5% increase from the previous year. Profits for the year reached Rs 1.5 billion, a remarkable 659% rise.

Sun also significantly reduced its net debt by 34.5% compared to the previous fiscal year.

The group’s occupancy rate reached 74%, surpassing pre-Covid levels, and the Average Daily Rate (ADR) increased by 42% compared to 2019.

The flow towards EBITDA, at Rs 2.4 billion, demonstrated notable performance, with the margin improving to 30.1%.

Sun conducted a revaluation of its assets, resulting in a gain of Rs 971 million. Tourist arrivals for the fiscal year showed an 88% recovery compared to 2019.

The outlook for the coming months is positive, with the first quarter of the 2024 fiscal year already outperforming the previous year.

Forward bookings for the second quarter are very promising, with tourist arrivals and air seat capacity progressively returning to pre-Covid levels.

Source: Le Mauricien