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Alteo Group published its financial results for the quarter ended 30 September 2017 showing a decrease of 21% in its Turnover and 48% in its Profit after Tax (PAT) driven by a lower sugar cane availability in Kenya and a delay in the harvest in Mauritius due to adverse climatic conditions compounded by a lower sucrose and price level.Alteo Group published its financial results for the quarter ended 30 September 2017 showing a decrease of 21% in its Turnover and 48% in its Profit after Tax (PAT) driven by a lower sugar cane availability in Kenya and a delay in the harvest in Mauritius due to adverse climatic conditions compounded by a lower sucrose and price level. However, Tanzanian operations show strong performance due to higher sales volume and average price.
The energy cluster posted a lower turnover and profit after tax mainly due to a planned maintenance stop at Consolidated Energy Co. Ltd which resulted into a lesser offtake and higher maintenance costs compared to the previous period.
The quarter was characterised by a low property turnover recognition given the early stage of completion of works relating to the northern parcels of Anahita. However the cluster results were influence by the better performance achieved by Anahita Golf & Spa Resort, driven by higher occupancy.
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