Mauritius | Finances

March 29, 2012

Financial Results: Mixed Fortunes for Businesses

Companies listed on the Development & Enterprise Market (DEM) have published their financial results. With a few exceptions, these companies have made an honourable performance, given the current economic gloom.

Quality Beverages Ltd

Quality Beverages Limited is one of the exceptions. Thus, the company has gone from a profitable situation, with profits of Rs 4.4 million in 2010 to a deficit position at December 31, 2011, with losses of Rs 11.5 million. The group achieved a turnover of Rs 580 million in 2011, against Rs 564 million in 2010. Quality Beverages explains that the poor financial results in 2011 resulting from higher commodity prices, particularly that of sugar. Anyway the group remains optimistic that the fiscal year 2012 should be better. 

Vital Water Bottling Co Ltd 

Vital Water Bottling Co Ltd, has, meanwhile, fell by over 26% of its profitability in 2011 compared to 2010, from Rs 13.6 million to about Rs 10 million. This decrease is attributed to higher financial costs. The group's turnover increased 11% from Rs 187 million to Rs 209 million. The operating profit increased from Rs 23 million to Rs 24.5 million.

Blychemex Limited 

Other business that experienced a decline in its profitability, Blychemex Limited increased from Rs 8.3 million in 2010 to Rs 7.3 million. The group's turnover is also down from Rs 71 million to Rs 69 million. Blychemex emphasizes that the textile industry has experienced a difficult situation. 

Chemco Ltd. 

The other companies by cons had a better year in 2011. For example, profits from Chemco Ltd increased from Rs 22 million in 2010 to Rs 25.5 million in 2011. The group's turnover increased from Rs 298 million to Rs 325 million in 2011. The increase in sales is attributed ironically to the good performance of its export segment. 

Soap and Allied Industries Ltd. 

Soap and Allied Industries Ltd. has seen its turnover fell by Rs 490 million to Rs 528 million. Thanks to exceptional items, namely the sale of shares amounting to Rs 22.6 million, the group made ??profits of Rs 5.1 million in 2011, against Rs 4.9 million in 2010. 

Margarine Industries Limited 

The turnover of Margarine Industries Limited increased from Rs 323 million in 2010 to Rs 363 million in 2011. The Group's operating profits reached in 2011, Rs 43.5 million, against Rs 34.8 million. The profits of Margarine Industries Limited increased from Rs 20.3 million to Rs 30.3 million, an increase of nearly 50%. The final dividend was Rs 60 was paid in January 2012, against Rs 50 in 2010.

 

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