The recent publication of annual accounts for the year ending June 30 has revealed a solid financial performance for several listed companies in Mauritius. MCB Group Limited recorded a net profit of Rs 20.3 billion, up 12.8% from Rs 18 billion the previous year. This significant growth indicates a positive trend in the financial performance of some of the country's major blue-chip companies.
Other notable companies have also reported impressive financial results. CIEL Limited posted a net profit of Rs 4.3 billion, representing a 12.6% increase from the previous year's Rs 3.8 billion. IBL Ltd reported a net profit of Rs 4.1 billion, while Medine Limited saw its net profit rise to Rs 1.9 billion from Rs 139 million the previous year. These results suggest a strong recovery and growth for these companies.
Alteo Limited also demonstrated a remarkable performance, with its net profit increasing to Rs 909.6 million from Rs 713.3 million the previous year, representing a 27.5% rise. The SEMTRI, the Stock Exchange of Mauritius' total return index, saw a 0.86% increase during the week, closing at 11,445.56 points on September 30. This upward trend in the index reflects the positive financial performance of these blue-chip companies.
The Stock Exchange of Mauritius' main index, SEMDEX, closed at 2,324.54 points, while the SEM-10 index, which tracks the top 10 listed companies by market capitalization, closed at 441.60 points. The market capitalization of the Official Market stood at Rs 326.5 billion, with total transactions amounting to Rs 313.1 million during the week. These figures indicate a healthy and active stock market in Mauritius.
The top five gainers during the week included ER Group Limited, Medine Limited, New Mauritius Hotels Limited, Almarys Limited, and Stevenhills Ltd, with increases ranging from 4.17% to 12.02%. On the other hand, the top five losers included NewGold ETF, National Investment Trust Ltd, Terra Mauricia Ltd, IBL Ltd, and CIM Financial Services Ltd, with declines ranging from 1.74% to 7.20%.
In terms of annualised returns since listing, a list of the top 10 performing companies showed returns ranging from 11.39% to 19.52%. On the Development & Enterprise Market (DEM), the DEMEX and DEMTRI indices closed at 223.53 points and 401.69 points, respectively, with a market capitalization of Rs 30.6 billion. The top 10 performing companies on the DEM, in terms of annualised returns since listing, included The Union Sugar Estates Co. Ltd, Livestock Feed Ltd, and Associated Commercial Ltd, among others.
Internationally, major stock market indices experienced declines during the same period, with the Dow Jones and NASDAQ falling by 0.99% and 1.64%, respectively. The DAX, FTSE-100, and CAC-40 also recorded losses of 0.70%, 0.67%, and 1.46%, respectively. Overall, the positive financial performance of Mauritian blue-chip companies and the upward trend in the stock market indices suggest a stable and growing economy.
Key points
- MCB Group Limited recorded a 12.8% increase in net profit to Rs 20.3 billion.
- The SEMTRI index saw a 0.86% increase during the week, closing at 11,445.56 points.
- Several companies, including CIEL Limited, IBL Ltd, and Medine Limited, reported significant increases in their net profits.
