Post-pandemic higher turnover and lesser profit

The commerce and retail sector in Mauritius has shown resilience and adaptability in the face of global challenges, particularly since the COVID-19 pandemic. According to the Economic Development Board (EDB) of Mauritius, the sector has benefited from strategic investments and policy reforms aimed at maintaining economic recovery and driving forward the recovery of sectors. However, the depreciation of the Mauritian rupee has hit hard along with the high inflationary rates.

In Mauritius, the commerce and retail sector has shown mixed performance in 2023. Courts Mammouth emerged as the top performer with a turnover of Rs 3,753 billion and a profit before tax (PBT) of Rs 82 million as of March 31, 2023. TheBrandHouse Ltd followed with a turnover of Rs 3,355 billion and a PBT of Rs 61 million as of September 30, 2023. Le Warehouse Limited had a turnover of Rs 2,535 billion and a PBT of Rs 50 million as of December 31, 2023. However, only Courts Mammouth’s profits have exceeded 2021 profits.

Other companies fared less well. Fashion Heights Group reported a loss before tax of Rs 12 million as of June 30, 2023, and FF Mega Stores Ltd reported a loss of Rs 27 million as of December 31, 2023. These results reflect the ongoing impact of supply chain disruptions and increased costs on the commerce and retail sector. The EDB’s report emphasizes the importance of strategic investments and policy reforms to support the sector’s recovery and future development. The government’s focus on enhancing service quality and operational efficiency has been instrumental in driving growth and sustainability in the commerce and retail sector.

In fine, the commerce and retail sector in Mauritius is adapting to the new normal. However, the depreciation of the rupee remains a challenge to overcome through national strategies and incentives. The insights from the Economic Development Board underscore the importance of continued support and strategic investments to ensure the sector’s success.