IBL Group Achieves Record 88% Revenue Growth

The IBL Group has experienced a significant 88% increase in revenue, reaching Rs 22.9 billion on September 30, 2023, compared to Rs 12.2 billion on September 30, 2022.

This growth can be attributed to the Commerce/Distribution segment, which saw a boost from the acquisition of Run Market, allowing the group to enter the retail sector in the sister island.

The Construction/Engineering segment also contributed to the revenue increase.

The group’s CEO, Arnaud Lagesse, expressed satisfaction with the record performance, highlighting the success of their international investments, particularly in Kenya.

The newly acquired companies are being integrated into the group and are expected to contribute to long-term revenue growth.

The overall value of the group’s assets has also increased, reaching Rs111.6 billion.

The group remains optimistic about the future and emphasised the importance of profitable acquisitions for growth.

Source: l’Express