StockMarketWire.com - Ceiba Investments said it had seen a downturn in hotel reservations since March amid decreasing flights to Cuba in the wake of the Covid-19 pandemic, and also flagged delays to a hotel construction in Trinidad, Cuba from reduced construction imports from Europe.

'The company can report that in the first two months of the current financial year there was no material Covid-19 impact on its operations, trading and investments. However, as of March 2020 hotel reservations for the year started to be affected by cancellations and decreasing flights to the Cuba,' the company said.

The operations of Inmobiliaria Monte Barreto, the owner and operator of the Miramar Trade Centre office complex in which the company had a 49% interest, do not appear to be materially impacted, Ceiba said.

But it added that 'the general liquidity situation in Cuba may have a negative effect on the ability of Monte Barreto to distribute dividends to its shareholders, including Ceiba.'


At 9:22am: [LON:CBA] share price was -4p at 61.5p



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