Rogers maintains its momentum with a Strong Recovery in most of its sectors
With the motto “Challenging Status Quo and Collaborating Forward”, the 'C&C programme', rolled out within Rogers since 2021, is the driving force behind the results published by the Group for the quarter and the financial statement ending March 31, 2022. These results confirm the strong recovery already noted for the first six months of activities in most of the Group's sectors, with revenues for the third quarter amounting to Rs 2.7 bn, an increase of 50% compared to the previous year and profits totalling Rs 358m. Boosted by the good performance of the Hospitality Served Market following the reopening of borders and the easing of travel restrictions, this strong resilience of the Rogers Group has been achieved thanks in particular to the recovery plan implemented in the group the past months.
For the past nine months ended March 31st, 2022, Rogers' revenues have amounted to Rs 7.8 bn (2021: Rs 5.7 bn), while profits equal to Rs 664m (excluding other gains and losses) against losses of Rs 708m (excluding other gains and losses) for the same period in 2021. Cash flow was also healthy, as it enabled the Group to distribute Rs 96m of interim dividends to shareholders.
These positive results confirm the recovery already noted by the Group in the first semester of its financial year. While the agri-business sector remains more difficult, the rest of the sectors, namely Fintech, Property with Ascencia, Hospitality and Logistics, are showing good resilience.
Commenting on these results, Philippe EspItalier-Noël, Chief Executive Officer (CEO) of Rogers, shared: “Our business is now on the road to recovery and is showing strong performance. We are confident in the Group's ability to return to results equivalent to those generated before the pandemic. We will continue to work on structural improvements to ensure that all of our businesses are profitable, while keeping sustainable growth at the heart of our decisions. »
Read the financial statements here.