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After a tough 2021, MCFI is just about profitable again

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After a tough 2021, MCFI is just about profitable again

The revenues of Mauritius Chemical and Fertiliser Industry Ltd (MCFI) for the quarter ended 31 March 2022 rose by 20% compared to last year.

The Group made an operating profit of Rs 3.7 million for Q1:2022, compared to last year’s operating loss of Rs 1.5 million.

It achieved a profit before tax of Rs 0.9 million for the quarter under review compared to a loss of Rs 7 million for the corresponding period last year.

In its Unaudited Condensed Financial Statements for Quarter ended 31 March 2022 published by the Stock Exchange of Mauritius, MCFI attributes the results to its “strategy of investing in inventory with an aim of mitigating stock shortages for its clients and pursuing its cost optimisation initiatives.”

It expressed concerns on “the highly inflationary environment with no clear visibility on pricing and availability of commodities and raw materials.”

The company is listed on the official market of The Stock Exchange of Mauritius since 1989 and is a subsidiary of Harel Mallac & Co. Ltd.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.