NSE Listed hotelier TPS Eastern Africa has issued a profit warning for the Full year ending 31st December 2015.
TPS Serena becomes the thirteenth listed firm to issue an alert compared to 11 for last year.
The hotelier says that it expects Full year 2015 profit to fall by at least 25% compared to the same period last year.
TPS, which operates a chain of luxury hotels, lodges and tented camps across east Africa under its Serena brand, reported a half year loss of Sh139 million.
The company blamed the following factors for the fall in Profits;
- Negative International Media Reports
- Elevated Travel Advisories
- Terrorist threats
- Local security incidents
- Introduction of VAT on Tourism Services
- Withdrawal of charter planes.
The NSE Listed firm assures investros that 2016 will be a profitable year since the UK and French government have lifted their Travel advisories on the Kenyan Coast.
NSE Kenya Profit warnings now at 13 in 2015
The number of companies issuing profit warnings this year now stands at 13 in total.
