Image Image Image Image Image Image Image Image Image Image Image Image

AfricaMoney | August 20, 2017

Scroll to top

Top

No Comments

Mauritius’ Ireland Blyth sees first quarter operating profit up 9%

Mauritius’ Ireland Blyth sees first quarter operating profit up 9%

 

Mauritian conglomerate Ireland Blyth Ltd (IBL) saw 9% growth in operating profits for the quarter ended Sept 30 to hit Rs 338 million even as quarterly revenue stagnated at Rs 5.3 billion, compared to Rs 5.2 billion in the year-ago period. (Image: Global Village Encyclopedia)

Mauritian conglomerate Ireland Blyth Ltd (IBL) saw 9% growth in operating profits for the quarter ended Sept 30 to hit Rs 338 million, compared to 312 million in the corresponding quarter a year ago. Revenue for the group, however, rose only marginally by 2% to Rs 5.3 billion for the quarter from July to September, compared to the year-ago period (Rs 5.2 billion).

The company, which is involved in seafood, commerce, financial services and logistics, noted that the seafood and marine sector continued to perform well with an increase of 28% in profits, although a slight drop in revenue was noted.

With favourable market conditions for the sector, all subsidiaries – Thon des Mascareignes Ltée, Marine Biotechnology Products Ltd and Chantier Naval de l’Ocean Indien Limited – performed well to yield profit from operations of Rs 164.7 million. This ensured that the seafood and marine sector’s contribution amounted to around 50% of the total operating profits of the company.

 

However, the conglomerate added that while the commerce and financial services Sectors also posted good results in the first quarter, the engineering and retail sectors continued to sustain pressure from the sluggish economic environment.

Following the results announcement, shares in IBL were unchanged at Rs 98 at the close of trade on Tuesday.

 

The board also declared an interim dividend of Rs 0.65 per share for the year ending 30 June 2014 which will be paid on December 20.

Ireland Blyth Limited (IBL) is one of the largest conglomerates in Mauritius. Incorporated in 1972 after the merger of two leading companies, Blyth Brothers and Ireland Fraser, IBL became a public company in 1994. The group employs more than 7,000 people.

Source: Stock Exchange of Mauritius, Company Website

Company Profile

Ireland Blyth Ltd (IBL)

Ireland Blyth Limited (IBL) is one of the largest conglomerates in Mauritius. Incorporated in 1972 after the merger of two leading companies, Blyth Brothers and Ireland Fraser, IBL became a public company in 1994. The group employs more than 7,000 people.

The IBL group operates in six main sectors of the economy: Commerce, Engineering, Financial Services, Logistics, Aviation & Shipping, Retail, Seafood & Marine.  This diverse portfolio, coupled with strong partnerships with a number of large international companies, sound strategic choices and competent management, has ensured the growth and development of IBL into one of the largest groups in the private sector.

Source: Company Website

Submit a Comment

Directory powered by Business Directory Plugin