African Sun flush with cash for capital investments

HOSPITALITY group, African Sun Limited (ASL), has planned major capital investments into refurbishments of its properties and upscaling its information technology for the year amid a projected increase in business.

The commitment comes after the firm increased its capital commitments last year to US$11,01 million, up 20,22% on the 2022 figures.

Funding for these capital investments is expected to come from normal operating cash flows and debt finance, as the firm entered the year in a liquid position with a current ratio of 1,76.

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