Despite the Covid-19 pandemic, Alteo Group’s condensed financial results for the financial year ending June 30, 2021 show a clear increase compared to last year. Indeed, the group posted a 15% increase in revenues from Rs 9.5 billion to Rs 8.2 billion in 2020. Profits, meanwhile, rose to Rs 1.8 billion from Rs 222 million in 2020.
“We are very pleased with the group’s performance as it illustrates the work done in recent years, especially for the Sugar cluster. In Mauritius, the ex-Syndicate price improvement coupled with our strategy to reduce costs and increase production of specialty sugars has paid off, contributing to group profits. At the property level, the sale of 11 serviced plots to Anahita more than compensated for the poor performance of Anahita Golf and Spa Resort and Anahita Golf, which had very little activity during the past year due to the pandemic. We are now waiting for the borders to reopen, even if the cluster will continue to suffer the effects of Covid-19 for several more months,” explained André Bonieux, CEO of Alteo.
Regarding the appointment of Fabien de Marassé Enouf as the group’s Chief Executive Officer, Arnaud Lagesse, Chairman of the Board of Directors of the group, pointed out that this is a “strong signal that consolidates the group’s strategic direction. Fabien has been with Alteo for several years and is not only familiar with the company’s activities, values and culture, but he has also actively contributed to the development and implementation of the group’s strategy. He is thus perfectly equipped to carry out the projects already underway and has brought a new dynamism, which matches Alteo’s vision.”
A graduate of Curtin and a member of the Institute of Chartered Accountants in England and Wales (ICAEW), as the Group’s Chief Finance Executive he has been a key player in the restructuring of Alteo and its operations in recent years.
