TPS Eastern Africa (Serena) Posts Half-year Loss Down to KSh557.3mn

TPS Eastern Africa, which operates Serena Hotels, has reported a Sh557.3million loss after tax for the half-year ended June 30.

TPS Eastern Africa (Serena) says it registered a KSh557.3million loss after tax for the half-year period ended 30th June 2021.

However, this is relatively low from KSh 640.9 million reported in a similar period last year. 

During the half-year period, its revenues from contracts with customers closed flat at KSh1.1 billion recorded last year. Its operating loss closed at KSh254.8 million.

“Given the pent up demand in regional and international Travel outlook for the second half of year remains cautiously optimistic,” TPS Serena said in its H1 2021 Earnings release Wednesday.

“Our sales and marketing campaigns will continue to target the domestic and regional business, as international travel gradually starts to pick up,” it said.

Its subsidiary companies include TPS (Kenya) Limited which owns Nairobi Serena Hotel, Amboseli Serena Safari Lodge, Mara Serena Safari Lodge and Kilaguni Serena Lodge; TPS (Zanzibar) Limited which owns Zanzibar Serena Hotel; TPS (Tanzania) Limited which owns Kirawira Serena Camp, Lake Manyara Serena Safari Lodge, Serena Mivumo River Lodge and Selous Serena Camp; and TPS (Uganda) Limited. Other properties owned and managed by TPS Eastern Africa (Serena) Limited include Lake Victoria Serena Resort in Uganda and Polana Serena Hotel in Mozambique.

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