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Rogers Group Sizzles: 9% Revenue Boost in 9 Months



Rogers Group Sizzles: 9% Revenue Boost in 9 Months

The Rogers Group, a member of the ENL group, has reported a significant increase in revenue for the first nine months of the current fiscal year, which ended on March 31st. The company’s revenue reached Rs 9.7 billion, a 9% increase compared to the same period last year, which stood at Rs 8.9 billion.

Despite a rise in financial costs to Rs 671.1 million, the group’s net profit improved by 35% to Rs 1.8 billion, compared to Rs 1.4 billion in the previous year.

The improvement is attributed to better performances across most segments of the group’s activities.

Rogers Finance and Technology, a key segment of the group, reported a significant profit increase of Rs 270 million compared to Rs 143 million in 2023.

The company’s profits for the first nine months of this year are already higher than those for the entire financial year ended on June 30th, 2023.

According to the company’s administration, the positive trend in Rogers Finance and Technology’s performance is mainly attributed to the technology and credit sectors.

The technology sector has recorded significant improvements in profitability, primarily driven by the Cloud & Data Centre and Managed Connectivity service lines.

The credit sector has also been profitable, after recording losses last year due to one-off reorganization costs.

Rogers Logistics, on the other hand, reported a lower profit of Rs 164 million compared to Rs 184 million in the previous year.

The transborder logistics sector continued to suffer from a decline in freight prices and export volumes, while some activities were impacted by a rise in fuel costs in Kenya.

“Operations in Kenya have been adversely affected by the depreciation of the Kenyan Shillings and the escalation in fuel costs, exacerbated by the inability to pass increased costs to clients,” said the company’s direction.

However, activities such as transport, sugar packaging, and exportation in Mauritius contributed positively to the company’s results.

Rogers Malls presented a higher return on investment, with profits of Rs 508 million compared to Rs 466 million for the same period last year.

“Rogers Malls achieved much better results despite higher finance costs,” said the company’s administration. “This improvement is mainly attributed to annual lease increases, new revenue streams from the Phoenix Mall metro station and the new hardware shop at Bagatelle Mall, along with a lower vacancy rate.”

Rogers Real Estate & Agribusiness reported profits of Rs 194 million after recording losses of Rs 61 million in 2023.

Rogers Hospitality & Travel distinguished itself with profits of Rs 1 billion compared to Rs 909 million in 2023.

Veranda Resorts, the aviation sector, and associated company New Mauritius Hotels were the main contributors to the improvement in results.

The company’s recent opening of a new golf course, La Réserve, had a negative impact on performance.

However, “this segment has demonstrated a strong performance, driven by the increase in tourists’ arrival and higher occupancy rates of Heritage Resorts and Veranda Resorts and improved operational results from its associate company,” said the company’s administration.

The Travel sector has also shown notable improvement attributable to contributions from new airline representation, Vistara, and activities from SAA cargo operations.

The ground handling activity has also performed well with marked increases in tonnage handled by PATS.

In line with Rogers’ sustainable development strategy plan, the company is implementing Solar PV Farms with its partners, with a capacity of 5 MW.

The company’s administration also noted that it is integrating a carbon capital management system into all its operations through a SaaS platform and a team of carbon-certified auditors.

The article also highlighted Rogers’ pilot project, Bouzé Zenes, aimed at rehabilitating young people and employability in the Bel-Ombre region. The company is expecting to achieve a better overall performance for the current fiscal year.

Source: Le Mauricien

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