The company which owns the most luxurious hotel in Harare, Zimbabwe has reported a massive rise in its profits, according to the BBC.

But the figure reflects the rampant inflation in the troubled nation, rather than an increase in business.

The group reported an operating profit of 2.3bn Zimbabwe dollars (£28.1m) for the financial year that ended in March, more than double the sum recorded for the previous 12 months.

The Meikles Africa Group owns the flagship Victoria Falls and Meikles hotels in Zimbabwe, and the Cape Grace hotel in South Africa.

But the BBC reports that the adverse political situation meant that both Meikles and Victoria Falls operations only managed to fill a third of room vacancies.

Inflation-adjusted figures revealed an operating loss of 267m Zimbabwe dollars for the year compared with profits of Zim$475m the previous 12 months.