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MESSAGE FROM THE CHAIRMAN

MESSAGE FROM THE CHAIRMAN

Dear Shareholder

 

I am pleased to present you the annual report of Gamma-Civic Ltd and the Gamma Group for the year ended 31 December 2016.

Improved Financial Performance

In 2016, Gamma Group delivered a business operating profit of MUR 363M, 147% higher than 2015, with earnings per share of MUR 1.11 against MUR 1.07 for the previous year. Our group profit after tax in 2016 was MUR 191M, which is 10% up from MUR 174M in 2015. Group revenue was MUR 3,756 M compared to MUR 2,127 M in 2015, and at the end of year 2016, the Group total assets stood at MUR 5,732M compared to MUR 5,584 M for the previous year.

Resilience Amidst Macroeconomic Uncertainties

The Company has benefitted from the rigorous actions taken in 2015 to improve its profitability and its sustainability. In what proved to be a difficult year for the business environment, Gamma-Civic Ltd has posted a commendable financial performance. Our Group has maintained its resilient position with all our key operating companies meeting or exceeding their respective 2016 operating profit targets. This has been made possible due to our skill and experience in our core activities, our willingness to take decisive actions as and when necessary, and a prudent approach when embarking on new non-core activities amidst the macroeconomic uncertainties.

 

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