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AfricaMoney | August 20, 2017

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Mauritius’ Ireland Blyth sees operating profit up 21%

Mauritius’ Ireland Blyth sees operating profit up 21%

A worker for Ireland Blyth Ltd in the seafood and marine sector which contributed to more than half of the operating profits for 2012-13 (Source: http://www.proudlyafrican.info)

Ireland Blyth Ltd (IBL) saw 21% growth in operating profits for the year ended June 30 to hit Rs 1.23 billion, compared to 1.02 billion a year ago. Revenue for the group went up 15% to Rs 19.91 billion, compared to Rs 17.33 billion last year.

The company, which is involved in seafood, commerce, financial services and logistics, noted that the engineering sector managed a good run in the last quarter to register a slight increase of 6% in its operational profit for the current financial year.

However, the star performer in the company’s portfolio was the seafood and marine sector. 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 Rs560 million. This ensured that the seafood and marine sector’s contribution amounted to more than 50% of the total operating profits of the company.

Profit after tax for the year was up 24% over last year at Rs566 million, resulting in an earnings per share of Rs7.92 for the year. Following the results announcement, shares in IBL gained 1.04% to Rs 97.00.

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

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