People in Mauritius drank 5% less booze between July 2020 and June 2021, according the financial statement of Phoenix Beverages Ltd just released.
Comparatively, sales volume in Reunion Island was up by 7.2%.
On the whole, sales volume of the largest brewery in Mauritius, decreased by 1.3% over the same period.
Nonetheless, the company’s turnover increased marginally from Rs6.42billion to Rs6.53 billion. However, profit after taxation for the period decreased from Rs396.3 million to Rs376.5 million.
The reduction in profitability, the Board has reported, was mainly due to the combined effect of reduction in sales volume, increased production and logistic costs as well as unfavourable exchange rates.
Turnover from Phoenix Beverages’ operations in Reunion Island increased from EUR 27.8 million (Rs1.3 billion) to EUR 28.3 million (Rs1.4 billion).
Net profit after tax for the period stood at Rs 75.5 million (EUR 1.59 million) compared to Rs0.75 million (EUR 0.02 million) in 2020.
Bottomline, Phoenix Beverages’ results were boosted thanks to Reunion Island and through exports.
This contributed to the increase of the brewery’s profit after tax from Rs444.6 million to Rs531.2 million – “thus validating our decision to also invest overseas,” it said.