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16 May 2024

Local Markets

Earnings Corner


For the 9 months ended March 31, 2024, IBL posted a 92% surge in group revenue to MUR 77.8B. This was due in large part to the Commercial & Distribution segment reporting a 144% increase in revenue to MUR 59.3B as a result of both organic growth and the inclusion of new acquisitions. The Hospitality & Services segment also showed a 22% improvement in revenue to MUR 8.2B. Operating profit increased 48% to MUR 4.5B while net finance costs rose 70% to MUR 2.3B. Share of results of associates & JVs logged a 25% boost to MUR 2.1B on improved results mainly in the Financial Services segment (Afrasia) and Agro & Energy segment (Alteo). As a result, net profit for the period from continuing operations rose 11% to MUR 3.9B. Management expressed optimism regarding the company's performance, anticipating the positive trend to be maintained in the medium term.

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Source: Investing.com, Yahoo Finance, African Markets, Stock Exchange of Mauritius, Trading Economics, Statistics Mauritius