Tsogo Sun warns profits will fall due to tough economy

SA’s largest hotel group, Tsogo Sun, expects revenue to have marginally increased by between 1% and 3% for the year to end-March, it said on Thursday.

Trading during the first nine months of the group’s financial year was affected by the depressed macro-economic environment, both locally and with its African operations, and with demand by corporate and leisure groups, as well the transient traveller, showing little sign of recovery...