ENL Group Reports 48% Profit Increase in Positive Six-Month Financial Results

ENL Group has reported a 48% increase in profits as of December 31st. The financial results for the six months ending December indicate positive performance across various sectors.

Revenue has grown by 16% to Rs 11.9 billion, with post-tax profit increasing to Rs 1.4 billion. The agribusiness, hospitality, and trade and industry sectors have been key drivers of this growth.

CEO Gilbert Espitalier-Noël commended the discipline and continuity in the company’s operations.

Each of the seven business sectors has contributed to the success. The attributable result for shareholders is Rs 802 million, and earnings per share is Rs 2.14.

The agribusiness sector saw positive results due to a favorable sugar price.

The trade and industry sector showed a 29% progression, with Axess performing well. Real estate faced losses but anticipates improved sales towards the year-end.

The Land & Investment sector managed to offset higher financial costs.

Rogers Hospitality noted improved operational performance, while New Mauritius Hotels maintained performance despite room availability challenges.

Logistics revenue decreased by 4%, balanced by strong transport activity in Mauritius and Kenya.

Rogers Capital saw a significant performance improvement without restructuring costs. Swan, an associated company, maintained its performance.

Expectations are high for ENL’s operational performance in the current financial year. It was a positive six months overall, with promising developments across various sectors.

Source: Le Mauricien