Logistics Storage: Mauritius Freeport Development Transforms Losses Into Profits

14 years, 5 months ago - November 18, 2011
The company logistics and warehousing Mauritius Freeport Development (MFD) has turned things around, realizing a profit of Rs 14.5 million for the nine months of the year. For the same period last year, it had made losses of Rs 130 500.

Income from MFD increased from Rs 284.6 million in September 2010 to Rs 329.3 million this year. The management of the company explains the good result mainly due to the die of the cold chain.

Nevertheless, management complained of a decline in operating profits which rose from Rs 72 million to Rs 60 million between 2010 and 2011. MFD attributes this decline to the strong rupee policy practiced by the Bank of Mauritius.

Small consolation nonetheless, the company operating in the Freeport made a profit of Rs 16.2 million on the exchange rate as last year, the company had made losses of Rs 6 million on this item.

Text by lexpress.mu
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