Le Groupe Gamma a réalisé un profit après taxes de Rs 228 M (Déc 2019 : Rs 596 M). Dans un communiqué, la direction avance qu’elle est satisfaite d’être profitable, surtout que la société a pris de plein fouet la pandémie. Ainsi, le profit a été impacté par une baisse conséquente de 62 % si l’on compare à l’année dernière.
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Impact of COVID-19 pandemic on Group activities
The adverse impact of COVID-19 is specially highlighted in the financial results of our associate company in the Hospitality sector and in our Contracting segment. It remains unclear to what extent the ongoing crisis in the world will continue to impact on the Mauritian economy specifically driven by the restrictions on international travels, the downturn in the tourism sector, the impact on consumer spending and the effect of these factors on the segments of the Group.
The Board and management team continue to monitor the development of the COVID-19 pandemic and the short-to-medium term implications of the national lockdown in 2020 and 2021. The Government of Mauritius announced a national lockdown beginning on 10 March 2021, following certain local transmission cases of COVID-19. On the positive side, we are encouraged by the current vaccination campaign which will help to mitigate the health and safety concerns of the general public.
The Board and Management have placed the health, safety and wellbeing of our employees, as well as business continuity in terms of operational and cash flow resilience, central to our crisis management strategy. The Group continues to adopt all necessary measures to ensure the safety of its employees, customers and partners. We are working with all stakeholders concerned to ensure their continued support during these challenging times.
Building Materials Segment
Other than the adverse impact of the national lockdown due to the COVID-19 pandemic in 2020, the segment faced additional challenges as a result of an increase in the cost of raw materials driven by a weakening MUR. Despite the difficult operating environment, the segment showed tremendous resilience and demonstrated its ability to ensure a continuous supply of cement in the market to meet the demands of its customers at all times and to conclude a profitable year. Financial year 2021 is expected to be equally challenging, but the segment has taken proactive measures to ensure a strong supply chain management, along with other various risk mitigating actions.
The operating loss reported for the year ended 31 December 2020 is directly as a result of the national lockdown for two months. The outlook based on our pipeline and order book for the financial year 2021 is under careful monitoring by the Board.
This segment holds investment properties which are reported on the Statement of Financial Position in Non-Current Assets. The investment properties and the other properties classified as land and buildings on the Statement of Financial Position were revalued by an independent valuer at 31 December 2020. Overall, there was no reduction in the value of the properties.
This segment suspended the sale of its products between 20 March and 6 June 2020 to comply with the Government of Mauritius order of lockdown of non-essential businesses and services to protect the health and safety of all its stakeholders. This resulted in an overall reduction in revenue and profitability for the full year. It mitigated the impact on the business by reducing operating costs, expenses and cash outlays. In addition, measures were implemented to strengthen its financial position and remain releva…