About this report

Integrated Reporting

Over the past years, we have provided our shareholders with Annual Reports that conveyed detailed information on our operating context, performance, corporate governance, risk management & audit and strategy. This year will further innovate with a fully integrated report in line with the International Framework of the International Integrated Reporting Council (IIRC). This report provides detailed information relating to our strategy and business model, operating context, material risks, shareholders and other stakeholders’ interests, performance prospects and governance covering the financial year ended 30 June 2017. For ease of reference, some information may be contained in other relative topics.

Compliance Reporting

This report is in compliance with:

  • IFRSs;
  • the International Framework of the Integrated Reporting
  • Council (IIRC);
  • the Companies Act 2001;
  • the Code of Corporate Governance; and
  • the Financial Reporting Act 2004.

Targeted Audience

This report has been prepared primarily for the shareholders of Rogers and Company Limited. It is also relevant to prospective investors, Government authorities and any stakeholder who has an interest in the performance of the Group.

Forward-Looking Statement

Our report contains certain forward-looking statements with respect to the Group’s financial conditions, results, operations and businesses. These statements and forecasts involve risk and uncertainty and are based on management assumptions which may change in the future. These could impact on the actual performance that could differ from those expressed or implied by these forward-looking statements.

External Audit and Assurance

An independent audit of the Group’s and Company’s separate financial statements was performed by BDO & Co. They also report on the extent of compliance with the Code of Corporate Governance. The rest of this integrated report has not been subjected to independent audit or review and is derived from the Group’s internal sources or from information available in the public domain.

Who we are

Rogers and Company Limited is a listed international services and investment company with nearly 120-year history pioneering the economic development of Mauritius. We are one of the country’s leading companies and largest employers in the services sectors with a strong commitment to Social and Natural Capital.

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Total revenue
Rs m

What makes Rogers
Our Group is widely acknowledged for its solid asset base, quality network of contacts and partners, recognised expertise with substantial market share in each of the sectors in which we operate, as well as a united, competent and balanced team.

What we do
We conduct our operations in Mauritius and abroad in four served markets, which are FinTech, Hospitality, Logistics and Property, in which we have developed specialist expertise. Our operations within each served market are organised into sectors, all of them with a leading position in their respective industries.

What we value
Our activities at Rogers are based on our core values of Leadership, Dynamism and Agility, which are embedded in our every action and govern how we conduct business every day. We firmly believe that Energy drives Everything within our organisation, from dynamism to inspiration, agility, performance, sustainability and happiness.

Who we are

Rogers and Company Limited is a listed international services and investment company with nearly 120-year history pioneering the economic development of Mauritius. We are one of the country’s leading companies and largest employers in the services sectors with a strong commitment to Social and Natural Capital.

0
Total revenue
Rs m

What makes Rogers
Our Group is widely acknowledged for its solid asset base, quality network of contacts and partners, recognised expertise with substantial market share in each of the sectors in which we operate, as well as a united, competent and balanced team.

What we do
We conduct our operations in Mauritius and abroad in four served markets, which are FinTech, Hospitality, Logistics and Property, in which we have developed specialist expertise. Our operations within each served market are organised into sectors, all of them with a leading position in their respective industries.

What we value
Our activities at Rogers are based on our core values of Leadership, Dynamism and Agility, which are embedded in our every action and govern how we conduct business every day. We firmly believe that Energy drives Everything within our organisation, from dynamism to inspiration, agility, performance, sustainability and happiness.

Our Regional Presence

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Offices in

0

Countries

Over the years, we have expanded and diversified our footprint around the world, it currently spans three continents, and we employ 4,526 staff.

The presence of the Rogers brand outside Mauritius is detailed below:

  • Rogers Capital has overseas desks in South Africa, Seychelles and Singapore.
  • VLH has sales teams in France, UK and Germany.
  • Rogers Aviation has regional offices in the Comoros, Madagascar, Mozambique, Mayotte, Reunion Island and South Africa.
  • Velogic has established offices in strategic locations in Reunion, Madagascar, Mozambique, Kenya, France, India and Singapore. We also have representations through agents for UPS in the Seychelles, Comoros and Mayotte. Additionally, an agent operates under the brand name, Velogic in Bangladesh.

Our Group Structure

Our Group Structure

View/Download Group Structure

View/Download Fintech

View/Download Hospitality

View/Download Logistics

View/Download Property

Events & Achievements 2016-2017

Product offering
enhancement at
Domaine de Bel Ombre

Acheivement 2016-2017

1 / 13

Significant upgrades to existing facilities at our hospitality venues on the Domaine de Bel Ombre have been undertaken from 15 May to 15 August 2017 in line with our long-term strategy to celebrate the history and beauty of this more than 250-year-old natural sanctuary. Heritage Le Telfair Golf & Spa Resort has undergone extensive renovation as part of its repositioning as a unique product in style, decoration and identity, in harmony with the Domaine. Le Chateau de Bel Ombre went through major refurbishment to bring out the rich and complex history as well as the authenticity of the place.

Landscaping work was also carried out along the walkway linking Heritage Le Telfair Golf & Spa Resort and Le Chateau de Bel Ombre in order to create a much more integrated guest experience together with the Heritage Golf Club.

Veranda Palmar
Beach’s spa
gets a facelift

Acheivement 2016-2017

2 / 13

The spa at Veranda Palmar Beach Hotel has been refreshed in late 2016 with a nice
bright facelift to further improve the guest experience. The decor of the two treatment rooms as well as the reception and relaxation areas have been revamped with beige and turquoise blue tones combined with light woodwork. The spa of this Veranda Resorts property also has a sauna.

A fresh look
for the Ascencia
brand

Acheivement 2016-2017

3 / 13

Ascencia, the premier property investment company in Mauritius with an asset portfolio of Rs 10.7bn and some 100,000m² of lettable space, has unveiled in July 2017 its new brand identity and tagline, “Shaping singular places”. The rebranding has been applied across the entire mall portfolio, which includes some of the best shopping and lifestyle destinations on the island, such as Bagatelle Mall, Phoenix Mall, Riche Terre Mall, Les Allées d’Helvetia, Kendra as well as So’Flo, which is slated scheduled to open in November 2017 in Floreal.

Bagatelle Mall
celebrates 5th anniversary

Acheivement 2016-2017

4 / 13

Bagatelle Mall put up an activity-packed programme including live window displays, live concerts, a lucky draw and a special decor throughout the month of September 2016 to mark the mall’s fifth year in operation.
The anniversary celebration of the country’s premier shopping venue with a monthly average of 700,000 visitors culminated with a festive evening on 30 September 2016 at La Place du Moulin on the Domaine de Bel Ombre, which brought together tenants, partners, service providers, employees and government officials.

Continued social
and environmental commitment

Acheivement 2016-2017

5 / 13

The special purpose vehicle Rogers Foundation, established to implement our Group’s Corporate Social Responsibility objectives, has undertaken a number of initiatives in the 2017 financial year. In line with our commitment to the protection of the island’s coastal and marine ecosystems, we offered our continued support to the NGO, Reef Conservation’s “Bis Lamer”.

This Mobile Marine Education Unit aims at bringing education about marine and environmental issues closer to the people. A comic book, “Tikoulou, la légende de Bel Ombre” was launched in March 2017 and distributed for free to children in order to provide them with a playful and educational introduction to the rich ecosystems and biodiversity of Bel Ombre. A beach erosion mitigation project is also under way since June in the region. Additionally, the Foundation lent its
support to the fundraising efforts to help the victims of cyclone Enawo, which hit Madagascar in early March 2017.

HERITAGE RESORTS
AWARDED GREEN
KEY ECO-LABEL

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

6 / 13

Heritage Awali Golf & Spa Resort and Heritage Le Telfair Golf & Spa Resort, our two luxury five-star hotels on the Domaine de Bel Ombre, became in January 2017 the first two establishments in Mauritius to achieve the prestigious Green Key award. They are now part of over 2,500 sites across the globe to have been presented with this certification.

The Green Key eco-label is a leading standard of excellence in the field of environmental responsibility and sustainable operations within the tourism industry. It represents a commitment from tourism establishments to adhere to the strict criteria stipulated by the Foundation for Environmental Education (FEE).

HERITAGE PROPERTIES
WIN ACCOLADES AT
WORLD GOLF AWARDS

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

6 / 13

The Heritage Golf Club and Heritage Le Telfair Golf & Spa Resort were both rewarded at the third edition of the World Golf Awar ds Gala Ceremony held on 12 November 2016 in Portugal. For the third year in a row, the Heritage Golf Club was voted Best Indian Ocean Golf Course.

Heritage Le Telfair Golf & Spa Resort received the award for the Best Golf Hotel in the Indian Ocean. This award programme form ing part of the prestigious World Travel Awards is one of the highest accolades in golf tourism.

ASCENCIA WINS
Corporate Reporting
AWARD

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

7 / 13

The country’s largest listed property fund, Ascencia has won in March 2017 the highly coveted PwC Corporate Reporting Award in the category, Listed Companies. This distinction is a tribute to the consistent hard work expended by our Group’s Property Investment sector to ensure high-quality reporting.

The PwC Corporate Reporting Awards have been established since 1998 to recognize efforts made by companies to improve the presentation and contents of their annual reports.

Encouraging young
musicians from
Patyatann

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

8 / 13

The Rogers Group has reiterated its support for the promotion of arts and culture in the country through contributing to the creation of the debut album of Patyatann. This group of four young artists has been honing their art on the local music scene since 2012 prior to releasing “Sanpek” on 6 August 2016 with ten tracks celebrating the cultural diversity of Mauritius.

Veranda Resorts
added a 5th hotel
to its portfolio

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

9 / 13

The VLH Group has strengthened its portfolio of a ‘hotel de charme’ with the acquisition of Tamarin Hotel in September 2016. Nestled between rolling hills and the preserved bay of Tamarin, this colourful 66-room three-star hotel is the first foray the Veranda Resorts brand on the West coast of the island. Renamed Hotel Tamarin by Veranda Resorts, the property is set to undergo renovation from early 2018 to increase the number of rooms to 100 and take full advantage of its unique location and concept.

Support to the
11 th Annual GSSI
Conference

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

10 / 13

Rogers was a proud Platinum Sponsor of the 11th Annual Global Sales Science Institute (GSSI) Conference, which was hosted from 6 June to 9 June 2017 at the Paradis Beachcomber Golf Resort & Spa. The event, themed “New Frontiers in Sales Research & Education in a Global & Sustainable World” was attended by over 80 participants from 16 countries. The Global Sales Science Institute is an international network formed in 2007 by scholars and practitioners from across the world with the aim to unite the study and practice of sales and sales management around the globe.

ASCENCIA WINS
Corporate Reporting
AWARD

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

11 / 13

Some 70 leadership team members of the different business lines of Rogers and Senior Managers of the ENL Group were treated to a masterclass in October 2016 on “Strategy Execution for Business Leaders” with Phil Parker, the Chair Professor of Management Science at INSEAD, the international business school based in Fontainebleau, France. This was an opportunity for them to work on themes such as objectives, audits, strategic models, strategy execution as well as monitoring and evaluation tools. The interaction that took place has prompted a review of the strategic plans and the implementation of action plans for each sector. This intensive five-day seminar has also contributed to strengthen the
collaboration between the Group’s different sectors. Phil Parker is currently based
in Singapore where he teaches business strategy and marketing. He also has teaching experience in Africa, Asia, Latin America, Europe and the Middle East.

Rogers Capital steps
into the FinTech arena

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

12 / 13

Our Group has merged together and consolidated our expertise in the FinTech served market in October 2016 to form a single unified brand, Rogers Capital.
Harnessing the power of technology to make financial services more agile, efficient and trustworthy, the entity is organised into three sectors – Corporate Services, Technology Services and Financial Services – combining world-class financial expertise with cutting-edge technology to provide sophisticated business solutions tailored to clients’ needs. Ashley Coomar , who has over 10 years’ senior management experience with the Group, has taken up the role of Chief Executive Officer of Rogers Capital in February 2017.

Porlwi by
light

Acheivement 2016-2017

#Golf #Mauritius #WorldGolfAwards

13 / 13

Our Group supported this year again, for the second year running, the Festival of Contemporary Culture, Porlwi by Light, which was held from 2 December to 4 December 2016.

Events & Achievements 2016-2017

View/Download Events & Achievements

Our board of directors

❮ Back to Group
Adam, Guy (Born in 1950)
CGC – Member
Independant Director

Appointed On

5 October 1994

Qualifications

  • Doctor of Medicine (MD).
  • Fellowship of the Royal College of Surgeons (FRCS).

Professional Journey

  • Appointed Fellow of the Association of Surgeons of Great Britain and Ireland.
  • Practising as a Consultant General Surgeon in Mauritius since 1988.

Skills

  • Broadly-based NED experience across diverse sectors.
  • Over 20 years with the group with a detailed knowledge of its operations.
  • Extensive knowledge of corporate governance

Current External Commitments

  • Medical Adviser to Swan Health Insurance Member of the Board of Directors of the Medical and Surgical Centre and chairs its CG and
    Ethics Committees

Current External Appointments In Listed Companies

None

❮ Back to Group
Espitalier-Noël, Eric (Born in 1959)
Non-Executive Director
CGC – Member
RMAC – Member

Appointed On

02 February 1994

Qualifications

  • Bachelor’s degree in Social Sciences (University of Natal in South Africa)
  • Masters degree in Business Administration (University of Surrey, U.K)

Professional Journey

  • Worked with De Chazal Du Mée & Co, Chartered Accountants in Mauritius and with Indian Ocean Export Co Ltd in South Africa
  • Joined ENL Group in 1986
  • Appointed Executive Director of ENL Ltd in 1987
  • Currently Chief Executive Officer of ENL Commercial Ltd

Skills

  • Well versed in corporate governance matters Strong marketing portfolio development and commercial skills
  • Valuable experience across several sectors

Current External Commitments

Member of the National Committee on Corporate Governance

Current External Appointments in Listed Companies

  • Automatic Systems Ltd (Chairman)
  • ENL Commercial Limited
  • ENL Limited
  • ENL Land Ltd
  • Les Moulins de la Concorde Ltée
  • Livestock Feed Limited
❮ Back to Group
Radhakeesoon, Aruna (Born in 1970)
Executive Director and Chief Legal Executive

Appointed On

18 October 2012

Qualifications

  • BA (Honours) in Jurisprudence (Balliol College, Oxford University)
  • Solicitor of England and Wales (NP)
  • Attorney-at-Law (Mauritius)

Professional Journey

  • Two year articleship with Sinclair, Roche and Temperley, a Solicitors’ Firm in the city of London
  • Joined Rogers as Project Analyst in 2001
  • In July 2001, she was appointed Group Company Secretary
  • She was appointed Chief Legal Executive in 2007

Skills

  • Transactional lawyer with over 15 years’ experience in the Group with a detailed knowledge of its operations
  • Extensive knowledge of board practices, corporate governance, FSC and stock market requirements
  • Growing people and inspiring teams successfully

Current External Commitments

  • Vice Chairman of the Central Depository & Settlement Co. Ltd
  • Chairman of the National Committee on Corporate Governance
  • Member of Care ratings (Africa) Pvt Ltd
  • Fellow Member of the Mauritius Institute of Directors

Current External Appointments in Listed Companies

  • Mauritius Development Trust Company Ltd
❮ Back to Group
Espitalier-Noël, Philippe (Born in 1965)
Executive Director and Chief Executive Officer

Appointed On

6 February 2004
CGC – Member

Qualifications

  • BSc in Agricultural Economics (University of Natal, South Africa)
  • MBA (London Business School)

Professional Journey

  • Worked for CSC Index in London as Management Consultant from 1994 to 1997.
  • Joined Rogers in 1997.
  • Was appointed Chief Executive Officer in 2007.

Skills

  • Proven experience of mergers and acquisitions, business turnaround and transformation.
  • Extensive expertise with strategy development and execution.
  • Inspiring leadership with senior management in the Group’s four served markets, FinTech, Hospitality, Logistics and Property.

Current External Commitments

  • Chairman of Ascencia Limited
  • Chairman of the Commission on the promotion of sustainable and inclusive growth in Mauritius of Business Mauritius.

Current External Appointments in Listed Companies

  • Air Mauritius Limited
  • Ascencia Limited
  • Swan Life Limited and Swan General Limited
❮ Back to Group
Montocchio, Jean-Pierre (Born in 1963)
Chairman and Independent Director
CGC – Chairman

Appointed

as Director on 25 March 2002
as Chairman on 09 November 2012

Qualifications

  • Notary in Mauritius

Professional Journey

  • Participated in the first National Committee of
    Corporate Governance as a member of the Board of Directors’ Sub-Committee.

Skills

  • Well versed in corporate governance matters
  • Broadly based NED experience across the private and public sectors
  • Significant experience in alliances, ventures and partnerships

Current External Commitments

  • Chairman of Promotion and Development Ltd
  • Chairman of Caudan Development Ltd
  • Chairman of Fincorp Investment Ltd.

Current External Appointments in Listed Companies

  • Caudan Development Ltd
  • ENL Land Ltd
  • Fincorp Investment Ltd
  • Les Moulins de la Concorde Ltée
  • New Mauritius Hotels Ltd
  • Promotion and Development Ltd
  • MCB Group Ltd
❮ Back to Group
Bundhun, Ziyad (Born in 1964)
Non-Executive Director

Appointed On

18 October 2012

Qualifications

  • Member of the Institute of Chartered Accountants in England and Wales.

Professional Journey

  • Articleship and qualification in London with Bright Grahame Murray, Chartered Accountants between 1984 and 1990
  • Started his career with Deloitte & Touche in the Middle East and moved to Ernst & Young in Mauritius in 1993
  • Joined the Mauritius Office of the International Trust Services Group, Mutual Trust in 1995
  • Founded the Mauritius Office of the International Audit and Consulting Group, Mazars in 2002.
  • Joined the Corporate Banking Division of the Mauritius Commercial Bank in 2005.
  • Was appointed Managing Director of MCB Capital Partners Ltd, the private equity arm of the MCB Group in 2006
  • Joined Rogers and Company Limited as Chief Finance and Investment Executive in October 2011.
  • Co-Founder and Managing Partner of New Africa Advisors in May 2017, an independent Corporate Finance and Mergers & Advisory firm.

Skills

  • Strategy development and execution experience.
  • Financial management.
  • Corporate finance.
  • Private equity.

Current External Commitments

None

❮ Back to Group
Espitalier-Noël, Hector (Born in 1958)
Non-Executive Director

Appointed On

22 December 1987

Qualifications

  • Member of the Institute of Chartered Accountants in England and Wales.

Professional Journey

  • Worked for Coopers and Lybrand in London
  • Worked with De Chazal du Mée in Mauritius
  • Past Chairman of the Board of Rogers and Company Limited.
  • Past President of the Mauritius Chamber of Agriculture.
  • Past President of the Mauritius Sugar Producers’ Association.
  • Past President of the Mauritius Sugar Syndicate

Skills

  • CEO experience across diversified sectors
  • Significant experience in alliances, ventures and partnerships
  • Strong financial skills and strategic understanding.

Current External Commitments

  • CEO of ENL Group
  • Chairman of New Mauritius Hotels Ltd
  • Chairman of Bel Ombre Sugar Estate Ltd

Current External Appointments in Listed Companies

  • Ascencia Limited
  • ENL Limited
  • ENL Commercial Limited
  • ENL Land Ltd
  • New Mauritius Hotels Ltd
  • Tropical Paradise Co. Ltd

Swan Life Ltd and Swan General Ltd

❮ Back to Group
Espitalier-Noël, Gilbert (Born in 1964)
Non-Executive Director

Appointed On

15 July 1999

Qualifications

  • BSc (University of Cape Town)
  • BSc (Hons) (Louisiana State University)
  • MBA (INSEAD Fontainebleau)

Professional Journey

  • Joined the ECLOSIA Group in 1990
  • Was appointed Group Operations Director in 2000
  • Joined ENL Group in February 2007
  • Was Chief Executive of ENL Property Ltd

Skills

  • Past President of various private sector institutions
  • (including MCCI, JEC etc…)
  • Experienced non-executive in several sectors
  • Detailed knowledge of the Group
  • Significant M&A experience locally and regionally

Current External Commitments

  • CEO of New Mauritius Hotels Ltd

Current External Appointments in Listed Companies

  • ENL Commercial Limited
  • ENL Land Ltd
  • ENL Limited
  • New Mauritius Hotels Ltd
  • Livestock Feed Limited
❮ Back to Group
Ruhee, Ashley Coomar (Born in 1977)
Executive Director and Chief Executive Officer – FinTech

Appointed On

20 July 2017

Qualifications

  • First Degree – Mathematics and Physics (Faculté des Sciences de Luminy, Marseilles)
  • Masters In Engineering – Automatic Control, Electronics and Computer Engineering with specialisation in Real Time Engineering and Systems (Institut National des Sciences Appliquées, Toulouse)
  • Executive education programmes at London Business School and INSEAD

Professional Journey

  • Worked as a Senior Engineer and Technical Lead for Capgemini Telecom, Media and Entertainment, Central and Southern Europe, Paris from 2000 to 2004.
  • Was appointed as Manager (Management and Business Consulting) at DCDM Consulting, a company managed by Accenture in 2005
  • Joined Rogers in 2007 was appointed Chief Information and Planning Executive of the Cim Group (the then Financial Services investment of Rogers) in 2008 and concurrently Managing Director of Enterprise
    Information Solutions Ltd in 2009
  • Held the position of Chief Executive Officer of Rogers Technology sector since 2012, and was concurrently Managing Director of AXA Customer Services Ltd until 2016
  • Appointed Chief Executive Officer of Rogers Capital in 2017

Skills

  • Strategy development and execution
  • Strategic information planning and execution
  • Large scale systems engineering and integration
  • Business leadership skills – was selected by the Institut
  • Choiseul for international Politics and Geoeconomics as one of the 200 young African Economic Leaders of tomorrow during 3 consecutive years (2014-16)
  • Business process re-engineering and transformation

Current External Commitments

  • Member of Young Presidents’ Organisation (YPO) – 2017
  • Appointed as Honorary Consul of the Republic of Lithuania in Mauritius

Current External Appointments in Listed Companies

  • None
❮ Back to Group
Mamet, Damien (Born in 1977)
Executive Director and Chief Finance Executive

Appointed On

10 May 2017

Qualifications

  • Member of the Institute of Chartered Accountants in England & Wales

Professional Journey

  • Started his career with Ernst & Young in London in 1999
  • In 2003, he moved to BDO De Chazal Du Mée (Mauritius)
  • In 2006, he was appointed Manager of Corporate Finance of PricewaterhouseCoopers
  • Joined Rogers Group where he was appointed
  • Managing Director of Foresite Property Fund
  • Management Ltd in 2009 and was appointed
  • Chief Projects & Development Executive of Rogers in 2014
  • He was appointed Chief Finance Executive of Rogers in 2017

Skills

  • Detailed knowledge of the Company’s activities and business having previously occupied the position of Fund Manager
  • Strategic and commercial understanding
  • Team management skills

Current External Commitments

  • Treasurer of l’Ecole du Centre
  • Director of the Blue Penny Museum (part of the MCB Group)

Current External Appointments in Listed Companies

  • Ascencia Limited
❮ Back to Group
Forget, Philippe (Born in 1950)
Independent Director

Appointed On

10 September 2015

Qualifications

  • BSc (1st Class Honours) in Computational & Statistical Science (Liverpool University, UK)
  • MSc (with distinction) in Management & Operational Research (Imperial College, London)

Professional Journey

  • Started his career at Management & Development Company Ltd (‘MADCO’), the holding company of the largest agro-manufacturing group on the island.
  • Was the first General Manager of Maurilait Ltd.
  • Worked at the Mauritius Commercial Bank Ltd for 36 years and retired as Deputy Chief Executive – Banking in 2013.
  • Following his retirement, he joined La Sentinelle Ltd as Executive Chairman.
  • Founding member, Director and past Chairman of Le Bocage International School, Clavis Primary School and Special Education Needs Society.
  • Was also a Director of ‘RUTH’, a home for the elderly.

Key Strengths

  • Detailed knowledge of risk assessment and management systems.
  • Strong international strategic skills.
  • Extensive experience in both general and financial management.

Current External Commitments

  • Executive Chairman at La Sentinelle Ltd

Current External Appointments in Listed Companies

  • None
❮ Back to Group
Masson, Vivian (Born in 1956)
Independent Director

Appointed On

10 September 2015
RMAC – Acting Chairman (from 05 May 2017)

Qualifications

  • Masters in Economics (University of Paris-Assas).
  • Diplôme d’Etudes Comptables Supérieures (DECS, France).

Professional Journey

  • Started his career with PriceWaterhouse in Paris and thereafter worked in the Vanuatu and Lyon branches.
  • Joined Pfizer Medical Technology Group as Finance Director in 1985.
  • Worked as General Manager of Alliance Spinners Ltd in Mauritius over the four years to 1991.
  • Was Managing Director of Howmedica France, a company part of the Pfizer Medical Technology Group.
  • From 1998 to 2015, he was President of Stryker Trauma & Extremities, a division of Stryker Corporation developing, manufacturing and
    marketing globally technologies for surgical treatment of bone fractures and deformity corrections.

Key Strengths

  • Many years of operating within the international businesses with cultural diversity.
  • Knowledge and experience of acquisition and disposal of businesses in international markets.
  • Many years of leadership in the medtech industry, creating successful R&D innovation, world-class manufacturing facilities and sales
    execution excellence.

Current External Commitments

  • None

Current External Appointments in Listed Companies

  • None

Our Board of Directors

View/Download Our & Board of Directors

Our Executive Team

Our Executive Team

View/Download Our & Board of Directors

Board of Directors’ Report

Dear Shareholders,
The board of directors of Rogers and Company Limited has the pleasure to present you with the Integrated Report of the Group for the financial year ended 30 June 2017. This has been another eventful year as we advanced our strategy to drive long-term growth and value for our shareholders.
For the first time this year, we have adopted the model of an Integrated Annual Report, which has been prepared in accordance with the guidelines of the Integrated Reporting Framework published by the International Integrated Reporting Council. The primary aim of our approach to reporting is to present a more understandable review of our business and provide a detailed explanation of how we utilize our capital, namely financial, human, social & natural and intellectual, to create value over time.
With regard to the operating environment in the review period, the global economic landscape was, amongst other events, impacted by the Brexit vote, the presidential elections and policy changes in the US and elections in France.
Global growth decelerated from 3.4% in 2015 to 3.1% in 2016. The International Monetary Fund projects world growth to rise to 3.5% this year and 3.6% in 2018, and is likely to stay below 4% over the period 2017-21.
Growth in the domestic economy was 3.8% in 2016 and is projected to grow to 3.9% in 2017, with the main drivers being the financial services and tourism sectors. With respect to the evolution of our main trading currencies, the EUR has been showing encouraging signs of recovery since April 2017 and the GBP is expected to remain weak against the Rupee. The low interest rate in the local environment should persist due to excess liquidity in the monetary system.
Our Group continued to demonstrate its ability to generate meaningful returns for shareholders. Overall turnover grew by 6% to Rs 8.7bn and profit after tax (PAT) for the year, excluding exceptional items, rose by 24% to Rs 975m. This uplift in our operating revenue and profit was largely driven by the Property served market. The FinTech and Logistics served markets recorded better-than-expected performance but the Hospitality results were dampened by the September 2016 year-end New Mauritius Hotels Limited (NMH) adjustments.
All our key performance indicators have improved from the previous reporting period. Earnings per Share (EPS) excluding exceptional items were Rs1.35. Our Group’s Net Asset Value (NAV) per share went up from Rs 37.60 last year to Rs 40.83. The dividend per share was Rs 0.92 against Rs 0.88 in 2016, representing a dividend yield of 3.2%. And finally, the Rogers’ share price over the financial year upped 3.4% to Rs 29.00 with market capitalization amounting to Rs 7.3bn as at 30 June 2017.
During the financial year the Group increased its stake in NMH, thereby triggering a mandatory offer alongside ENL Land Ltd, following which it acquired an additional 3.4% stake in the hotel group. The Group’s current shareholding in NMH stands at 22.76%, and the average price paid for the 5.1% shareholding accumulated during the last two years was Rs 23.66, i.e. 7.8m shares at Rs 231m in 2016 and 16.9m shares at Rs 358m in 2017.
The said NMH transactions were variously commented in the press. To our knowledge a written complaint was made to the Financial Services Commission (FSC) which has initiated an investigation. The Board reiterates that it has complied with all applicable rules and legislation when it transacted in NMH shares in 2016 and 2017.
The stability of the Rogers’ share price on the market is a strong indication that the investor community and the stakeholders of the Company are not allowing such intoxicating smoke screens to affect their appreciation of our Company’s potential. We recommend that our shareholders continue to exercise caution when interpreting communications that do not emanate directly from our Company and/ or regulators.
Throughout the financial year 2017, we fine-tuned our 2020 strategic plan through the incorporation of new dimensions to support our expansion within the described context.
We enter financial year 2017-18 with well-structured businesses equipped with the right mix of leadership skills and dynamism to seize new opportunities and drive organic growth. Nevertheless, we have also identified a number of key challenges which will require attention.
Our appreciation goes to our shareholders for their unflinching confidence in Rogers and their ongoing support for our shared strategy. We would also like to express our sincere gratitude to the Chief Executive Officer, Philippe Espitalier-Noël, the management team and all employees of the Group for their commitment.
Sincerely yours,
The board of directors

In line with the Rogers’ strategic roadmap, 2017 was a year that saw the Group delivering solid financial results and continuing to establish the building blocks for future growth, says the CEO, Philippe Espitalier-Noël.

Interview with the CEO
Philippe Espitalier-Noël

In line with the Rogers’ strategic roadmap, 2017 was a year that saw the Group delivering solid financial results and continuing to establish the building blocks for future growth, says the CEO, Philippe Espitalier-Noël.

Interview with the CEO
Philippe Espitalier-Noël

Chief Finance Executive Report

Overview

For the financial year 2017, Rogers
has produced a good performance with an improved profitability, despite the challenges and uncertainties both locally and internationally. The Group continued with its strategic investment plan with the main objective of securing future growth to shareholders value.

Mamet Damien
Chief Finance Executive and Executive Director

Chief Finance Executive Report

Overview

For the financial year 2017, Rogers
has produced a good performance with an improved profitability, despite the challenges and uncertainties both locally and internationally. The Group continued with its strategic investment plan with the main objective of securing future growth to shareholders value.

Mamet Damien
Chief Finance Executive and Executive Director

Forms of Capital

Financial Capital

Financial capital refers to resources made available to our Group through equity funding, debt and retained earnings

Human

Human Capital

Human capital relates to competencies, expertise and engagement of our People

Social and Natural

Social and Natural Capital

Social and Natural capital is the relationship with communities, NGOs, and other stakeholders on social and environmental matters that are relevant to the sustainability of our organisation within its ecosystem

Intellectual

Intellectual Capital

Intellectual capital is the intangible value of the organisation such as culture, brand image, systems and expertise

Financial

Integrated Risk Management

“The foundation for an integrated risk management framework has been laid. Its implementation is in progress and its completion remains a priority. Rogers continues to be more focused and proactive in anticipating changes and mitigating risks, hence reinforcing its strong risk awareness culture.”

Vivian Masson
Acting Chairman
Risk Management and Audit Committee

Integrated Risk Management

“The foundation for an integrated risk management framework has been laid. Its implementation is in progress and its completion remains a priority. Rogers continues to be more focused and proactive in anticipating changes and mitigating risks, hence reinforcing its strong risk awareness culture.”

Vivian Masson
Acting Chairman
Risk Management and Audit Committee

Financial Performance

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