TPS Eastern Africa Plc, the operator of the Serena Hotels brand, has swung back into profitability for the six months ended June 2024, posting a net profit of Sh570.9 million compared to a loss of Sh30.2 million previously.
The hospitality firm's recovery was aided by higher revenues in the period, as well as gains from a stronger local currency, which reduced the group's dollar-denominated liabilities, including debt and interest costs.
