Report

Annual Report 2018

The Group’s turnover and normalised EBITDA fell by 8% and 33% respectively, driven mainly by an unfavourable sugar price environment in Mauritius and Kenya, combined with a reduced sugar cane availability in Kenya. Our Energy cluster posted a slightly lower profitability than expected, due to a prolonged maintenance exercise at one of our power plants, while our Property cluster achieved a commendable performance with significant sales revenue recognition in the last quarter of the year. The Group profit after tax was enhanced by material gains on the disposal of land and revaluation of investment properties.

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