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Rogers: Turnover up 43%, swings back to profitability

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Rogers: Turnover up 43%, swings back to profitability

The Rogers Group has registered a 43% increase in revenue to Rs 10.7 billion, compared to Rs7.5 billion in 2021.

According its financial statements just released, the Group has also swung to profitability: it posted a Profit After Tax (PAT) of Rs 1.78 billion, compared to a loss of Rs 614 million last year.

The good results for the year ended June 2022 were attributed to the successful post-covid relaunch of its Hospitality Served Market operations. 

Its FinTech segment reported a PAT of Rs 332million (2021: Rs 297million), while its Hospitality segment posted a PAT of Rs 406 million (2021: loss of Rs 1.97 billion). Rogers explained that its five-star Heritage Hotels considerably contributed to the positive performances. The improved performance of its associate NMH also contributed to the results.

Rogers’ Logistics segment reported a PAT of Rs 194 million (2021: Rs 149 million) driven by its growth in the freight forwarding activities, with air freight and courier volumes increasing across most geographies. 

Its Property segment posted a PAT of Rs 931million (2021: Rs 940million). Ascencia reported an enhanced performance on the back of strong rental levels, improved rent to turnover ratio and trading densities.

The positive contribution was offset by the lower performance of the Property Development sector as well as its agricultural and livestock activities.

On 13 June 2022, the Board declared a final dividend of Rs 0.53 per share, resulting in a total dividend declared of Rs 0.91 per share (2021: Rs 0.60 per share).

Source: Bank of Mauritius

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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.