The Rogers Group has performed well for the financial year ending June 30, 2022. The results are attributable to the successful re-launch of its Hospitality cluster. The other clusters, FinTech, Logistics and Property, also performed well. The Group's revenues increased by 43% to MUR 10,713 M (2021: MUR 7,518 M). Its profitability amounts to MUR 1,780 M against MUR 614 M of losses in 2021. A performance driven by the resilience of the Group's teams.

Rogers Group has achieved its objectives, as demonstrated by its results for the financial year ending June 30, 2022. Two years after the pandemic, these results confirm the Group's resilience and its strategy of diversification.

"The engagement of our teams on the priority subjects and the consolidation of our talent pool coupled with the recovery of the tourism sector and the resilience of the Group's operations have contributed to this positive achievement ," said Philippe Espitalier-Noël, CEO of Rogers Group.

Following this positive performance, the Group has declared a total dividend of MUR 0.91 per share (2021: MUR 0.60 per share).

"Climate issues will significantly impact our current models in the short, medium and long term. We therefore continue to implement our strategy based on the 3Ps principle - Prosperity, People and Planet. The Group has recorded a good performance. Our efforts will continue to be focused on our social and environmental impact, essential to the development and sustainability of the company and the people who work there, as well as to our nation and the environment in which we operate,” concludes Philippe Espitalier-Noël.

Performance of Rogers' four core businesses:

•  FinTech: growth through trust and innovation

The Corporate and Technology Services recorded improved results. The Credit Finance activities maintained its profitability.

Key achievements

Profit after tax, excluding other gains and losses: MUR 332M (2021: MUR 297M)

Rogers Capital

• Founding member of the Tax Africa Network, a common platform for African tax professionals to share expertise, data and work.
• Successful execution of underground fibre optics in Ebène and Port-Louis.
• Launch of Noula application, a major step towards digitizing the application process for consumer credit activities.

Hospitality: recovery and transformation

The 5-star hotels of Heritage Resorts have contributed significantly to the positive results of the Hospitality cluster, on account of the successful post-covid relaunch of its operations.

Key achievements

Profit after tax, excluding other gains and losses : MUR 406 M (2021: losses of MUR 1,973 M)

Rogers Hospitality

• Launch of the Rogers Hospitality brand, the only group combining leisure and hotel offers in Mauritius.
• Launch of Now for Tomorrow initiative by Rogers Hospitality offering the first decarbonized hotel stays to Heritage Resorts guests.

Rogers Aviation

• Launch of Holidays by Bluesky, the first application on the island which facilitates the booking of vacations worldwide.

Logistics: performance supported by overseas activities

The performance of Velogic is driven by growth in the freight forwarding activities, with air freight and courier volumes increasing across most geographies. The share of overseas operations in the profitability of the Served Market increased from 44% to 55%.

Key achievements

• Profit after tax, excluding other gains and losses : MUR 194M (2021: MUR 149M)
• Integration of Velogic on the Development & Enterprise Market of the Stock Exchange of Mauritius.
• Velogic becomes the sole shareholder of its Kenyan operations with the acquisition of 49% of the shareholding in the existing Kenyan company.
• Strategic partnership with a strategic operator in France which enabled the latter to acquire 70% of the shareholding in Velogic France.
• Opening of a 10th office in India. 
• Launch of the TrackRight application service by Velogic Kenya. This service provides real-time tracking to drivers and also calculates the carbon footprint created after each trip.

Property: sustained development and performance

Ascencia reported an enhanced performance on the back of strong rental levels, improved rent to turnover ratio and trading densities. The positive contribution was offset by the lower performance of the Property Development sector as well as its agricultural and livestock activities.

Key achievements

Profit after tax, excluding other gains and losses : MUR 931 M (2021: MUR 940 M)

Ascencia

• Inclusion of Ascencia on the main market of the Stock Exchange of Mauritius, on the SEM Sustainability Index (SEMSI) and inclusion in the SEM-10 list.
• Launch of 42 Market Street at Bagatelle Mall for Small and Medium Enterprises.
• Upgrade by CARE Ratings from CARE MAU A+ Stable to CARE MAU AA- Stable.
• Restructuring of existing bank debt of MUR 4.7 billion.

Agrïa

Launch of the Bel Ombre territorial brand: Lamer. Later. Lavi

Find out more with the abridged audited financial statements here.