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AfricaMoney | June 28, 2017

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Mauritius’ listed firms MFD & Fortis Darne Clinique post encouraging results

Mauritius’ listed firms MFD & Fortis Darne Clinique post encouraging results

MFD Group Limited and the Medical and Surgical Centre Limited, that are companies listed on the Development and Enterprise Market of the Stock Exchange of Mauritius, have posted encouraging financial results with growth in both turnover and profits.
MFD, a distribution and industrial logistics hub for local, regional and international markets, reported a turnover growth of 14.9% to Rs 378.8 million for the six months ended June 2015, with operating profits reaching Rs 106.7 million against the 2014 figure of Rs 79.4 million, representing a growth of 34.3%.

Additionally the interest expenses for the period were trimmed to Rs 43.4 million.

Profit level after accounting for interest expenses edged higher by 82.7% to reach Rs 63.2 million, however, on a negative note, there was a net exchange loss of Rs 60.7 million arising from the fluctuation of the MUR against the US dollar, and is mainly unrealized.

Adjacent to the seaport of Port Louis, MFD has developed the largest logistics centre in the Indian Ocean.  MFD offers world-class and cost-effective supply chain solutions through a comprehensive range of equipment and facilities which comply with the highest standards in the industry: EU, HACCP, ISO.

MFD has refined the supply chain management concept to a single platform and offers a secured logistics package for a wide variety of products and services with a full private web traceability interface. International operators are provided with world-wide cargo service under the Freeport regime.

For its part, the Medical and Surgical Centre Limited and its subsidiary saw its revenue rising to Rs 182.1 million for the three months ended June 2015 and operating profit inched up by 22.2% to reach Rs 20.6 million.

Net profit amounted to Rs 17.2 million.

Finally, the results of the first three months in the financial year have been satisfactory for management and they project a promising outlook for the coming year.

The results reflect the commitment of the group to pursue its strategy of improving and innovating its medical services and investment in human resources.

It is to be noted that Fortis Clinique Darné is one of the oldest, yet most modern hospitals in Mauritius. When Fortis Healthcare Limited, amongst India’s largest healthcare providers joined hands with Mauritian conglomerate CIEL (through its subsidiary Novelife Limited) to jointly acquire a controlling stake in this, the largest private hospital on the Island.

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