Connect with us


Promising Performance for BlueLife in Q1 of 2023



Promising Performance for BlueLife in Q1 of 2023
Promising Performance for BlueLife in Q1 of 2023

BlueLife group has reported a noteworthy financial performance in the first quarter ended September 2023, with a profit before tax of Rs. 14.0 million, a significant improvement from the Rs. 4.6 million loss reported during the same period in 2022.

This boost was mainly attributed to substantial revenue growth in their property segment with a surge from Rs. 50 million in 2022 to Rs. 295 million, and their hospitality and leisure segment that increased from Rs. 75.4 million to Rs. 95.9 million from the previous year.

They also announced the start of construction for Palmea sea-view and Ennea Golf Villas, expected to generate a Rs 1.1 billion turnover over the current and next financial years.

Additionally, the Group increased its stake in Haute Rive Azuri Hotel, acquiring shares from The Bee Equity Partners.

As of September 30, 2023, the Group’s total assets amounted to Rs. 3.81 billion while net assets stood at Rs. 2.30 billion.

Looking ahead, the Group is focused on delivering Halona units by June 2024 and the sale of their new offerings, Amara golf villas and Ariza townhouses, aiming to start construction by the end of the financial year.

They will leverage the peak tourist season to further improve their hospitality and leisure segment’s financial performance.

Source: Stock Exchange of Mauritius

Spread the News
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *