TPS Eastern Africa optimistic after peacefull election
13 August 2013, 11:37
Nairobi - TPS Eastern Africa, the operator of the Serena chain of hotels and luxury lodges, said it expects "satisfactory results" this year after bookings picked up following a peaceful March General Election in Kenya.
The company on Monday posted a 20.56 percent jump in pretax profit for the first six months to 205.1 million shillings.
Its earnings have been curbed in recent years by political anxiety and insecurity due to neighbouring Somalia.
Foreigners stayed away from Kenya before and after the polls, fearing violence after the previous presidential election ended in a dispute and a bloody post-election crisis.
"The business outlook for the peak season (July-October) is at healthy levels... the company will record satisfactory results at the end of the year," TPS said in a statement.