First quarter results | NMH starts financial year 2026 with increasing revenue and strong EBITDA growth
New Mauritius Hotels Limited (NMH) has started financial year 2026 (1 July 2025-30 June 2026) on a strong footing, posting a solid first-quarter performance. Traditionally a low season for the hospitality sector, the period saw Group revenue rise by 9% and EBITDA surge by 32%. NMH also returned to profitability after reporting a loss in the same period last year.
Group revenue reached Rs 3.6 billion, up 9% compared to the first quarter of financial year 2025, despite the temporary closure of Shandrani Beachcomber Resort & Spa during the period. This growth was driven mainly by the high occupancy levels across NMH’s 5-star properties in Mauritius, the successful repricing of rooms following recent refurbishments and strong sales performance supported by disciplined revenue management.
EBITDA increased by 32% to Rs 741 million compared to the same quarter last year. This reflects the Group’s continued focus on cost control, operational efficiency and higher cash generation.
Profit after tax reached Rs 121 million, a significant turnaround from the Rs 67 million loss recorded in the first quarter of financial year 2025. This improvement was also supported by lower interest rates and reduced debt levels.
“NMH has made an excellent start to financial year 2026. Sustained demand and the strong occupancy of our properties, particularly our 5-star resorts, have driven solid revenue and EBITDA growth. We also achieved a net profit of over Rs 120 million during what is a seasonally deficit quarter for the Group. These results were delivered despite the closure for renovation of Shandrani Beachcomber and demonstrate the influence of the Beachcomber brand, the strength of our sales network and the Group’s operational and financial discipline. My warm thanks go to our 5,000 passionate and committed Artisans, who are our greatest strength and differentiating factor. With a strong foundation and rising bookings for the coming months, we look ahead to the second quarter with confidence and ambition,” says the CEO of NMH, Stéphane Poupinel de Valencé.
“NMH will continue on its growth and financial discipline trajectory while unlocking new ways to create value, including the construction of a second hotel in Morocco and the planned acquisition of one of the finest luxury resorts in Zanzibar. In light of our stronger financial performance over the past three years, we will also proceed with the early repayment of a substantial portion of the loan contracted with the Mauritius Investment Corporation. This decision, taken well ahead of schedule, reflects our commitment to responsible financial management in line with our current position,” he adds.
Projects
Mauritius
The major renovation of Shandrani Beachcomber was completed in mid-October as planned and the resort is now fully operational. Construction of Harmonie Beachcomber Golf, an 18-hole course at Les Salines, Black River, is progressing well with completion targeted for 2027.
Morocco
Discussions regarding the design and planning of a second resort to double the Group’s capacity in Morocco are ongoing with financial partners and Fairmont, which will manage the property. Construction is expected to begin around July 2026.
Zanzibar
The due diligence process for the acquisition of a 5-star resort in Zanzibar is progressing positively. Further details will be shared with the public in a dedicated announcement in the coming days.
Dividend
The Board of Directors has approved the payment of an interim ordinary dividend of Re 0.35 per share, payable around 16 January 2026.
Outlook
NMH expects a strong second quarter, with results anticipated to exceed those of 2025, supported by promising forward bookings. Subject to stable market conditions continuing, the Group remains confident for the full financial year ending 30 June 2026 and targets EBITDA of over Rs 5 billion, influenced by optimised revenue management and productivity-enhancing initiatives across all operations.