Strategic diversification of activities allows to mitigate risks and sustain growth

The agriculture and related sectors in Mauritius presents a diverse landscape, encompassing activities from agro-industry to fresh produce. Analysing the annual results of the Groups is a necessary step to understand the performance and challenges within each cluster as the large companies keep diversifying their portfolio of activities over the years.

In 2023, Omnicane Agro-Industry & Energy led the sector with a turnover of Rs 2,782 million and a profit before tax (PBT) of Rs 359 million. This performance shows a consistent improvement from previous years. In 2022, Omnicane reported a turnover of Rs 8,765.4 million with a PBT of Rs 627.3 million, showcasing its dominant market presence. The company’s integrated approach combining agriculture and energy production has positioned it as a key player in the industry.

However, Terra (power) showcased robust performance with a turnover of Rs 1,098 million and a PBT of Rs 564 million, highlighting the group’s strategic diversification. In 2022, Terra had a turnover of Rs 6,605.4 million with a PBT of Rs 1,005 million.

Alteo Agri Ltd achieved a turnover of Rs 1,489 million and a PBT of Rs 467 million, indicating strong performance in its agricultural activities. Compagnie de Beau Vallon Limitée also showed impressive results with a turnover of Rs 1,282 million and a PBT of Rs 429 million for the year ended December 2023. Medine Limited reported a turnover of Rs 920 million and a PBT of Rs 344 million for June 2023, showcasing its steady performance in agro-industrial activities. ENL Agri and AGRÏA Limited achieved turnovers of Rs 687 million and Rs 601 million respectively, with moderate profitability.

In the fresh produce segment, Proxifresh Co. Ltd reported a turnover of Rs 457 million and a PBT of Rs 19 million. Companies like Intego Ltd and Constance La Gaieté Company Limited (Agri) also contributed to the sector with turnovers of Rs 455 million and Rs 308 million respectively.

As showcased by the leading companies, strategic diversification and innovation are essential for sustaining growth in the core agricultural sector while developing investment locally, regionally or international in a wide range of clusters.