Air Mauritius will announce an increase in full-year profit
Air Mauritius Ltd. (AML), sub-Saharan Africa’s fourth-biggest airline, advanced the most in almost a month on expectations the company will this week announce an increase in full-year profit.
The stock advanced 0.9 rupees, or 4.7 percent, 20.2 rupees, by the 1:30 p.m. close in Port Louis. The gain was the biggest increase since May 16, according to Bloomberg data.
“It’s speculation on anticipation of results to be published by June 16,” Bhavik Desai, a research analyst at Axys Stockbroking Ltd., said in a phone interview from the city. “There are no more hedging losses. Results would be better.”
Air Mauritius announced on Feb. 10 that its third-quarter profits through December rose to 12.5 million euros ($18 million) from 3.22 million euros a year earlier.
