Connect with us


Airport Holdings Ltd Ranks 3rd in Top Hundred Companies 2023



Airport Holdings Ltd Ranks 3rd in Top Hundred Companies 2023
Airport Holdings Ltd Ranks 3rd in Top Hundred Companies 2023

Airport Holdings Ltd (AMI) has made a significant achievement in the recently released 2023 Top Hundred Companies ranking.

The state conglomerate, which was incorporated in August 2021, has climbed 29 places to secure the third position with an unaudited revenue of over Rs33 billion as of June 30, 2023, marking a 312% increase.

AMI encompasses several subsidiaries, including Air Mauritius, Aiports of Mauritius Ltd, Mauritius Duty-Free Paradise, and Atol.

With assets valued at Rs95 billion and employing over 4,000 individuals, AMI received a financial injection of Rs25 billion from the Mauritius Investment Corporation (MIC) in December 2021.

In return, MIC obtained a 49% stake in Airport Holdings Ltd.

With its impressive revenue of over Rs33 billion, AHL, led by CEO Ken Arian, sits just two places behind IBL, further solidifying IBL’s position as the top company in the country with a revenue of Rs54 billion as of June 30, 2023, compared to nearly Rs50 billion the previous year.

The CIEL group maintained its second position with a revenue of Rs35.4 billion. This leaves a gap of nearly Rs2 billion between the private conglomerate and AHL.

Ecolesia Group has moved up two spots to secure the fourth position with a revenue of Rs17.8 billion, while ENL has dropped one spot to fifth position. Vivo Energy (Rs16.5 billion), Leal Ltd (Rs14.7 billion), Engen Petroleum (Rs14.6 billion), NMH (Rs14 billion), and Indian Oil (Rs13.2 billion) round off the top ten.

The second state-owned company to make the Top Hundred Companies list, Mauritius Telecom, has dropped to 12th place from 7th place in 2022. Its revenue has decreased to Rs11.4 billion, based on December 2022 data. 

Top Hundred Companies is published by Business Publications Ltd, a subsidiary of La Sentinelle Group. 

The media sector continues to face financial difficulties, with consolidated losses reported by MC Vision, MBC, Mediacom, and La Sentinelle.

Nonetheless, certain press groups, such as Le Défi Plus Ltd, have managed to fare well with a pre-tax profit of Rs6.3 million as of June 30, 2022. Private radio stations like Radio Plus (gross profit of Rs13.8 million last year), Top FM (+Rs3.1 million), and Viva Voce (+Rs2.8 million) have also fared positively.

The combined revenue of the top 100 companies indicates a 31% growth compared to the previous ranking, amounting to Rs548.7 billion compared to Rs418.8 billion.

Source: l’Express

Spread the News
Continue Reading
Click to comment

Leave a Reply

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