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The Mauritius Yellow Pages News - Mauritian, South African Businesses In Partnership |
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Mauritian, South African Businesses In Partnership |
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February
16,
2001
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Posted to the web February 16, 2001 Port Louis, Mauritius Ireland Blyth (Mauritius) Ltd and Shoprite (South Africa) have joined forces together to set up hyper-markets throughout the island, and the first of such market will be opened in August 2002 at Trianon, 15 kms south of Port Louis. IBL's chief executive, Patrice d'Hotman de Villiers said Friday the 14,000 square metres hyper-market will be managed by Shoprite which holds 51 percent of the shares in the new firm. "This alliance has got another feature as Mauritian products would be available on the South African markets through Shoprite," he said. The Shoprite Group of Companies achieved earnings of 57.6 cents per share for the year ending June 30, 2000 compared to 21.3 cents per share in the previous year. A final dividend of 9.5 cents was declared, bringing the total dividend to 18 cents (1999: 14 cents). "This is in line with management's expectations and was achieved despite a challenging trading environment," the Shoprite management said in its 2000 annual report. While IBL (Mauritius) was incorporated in 1972 following the merger of two leading trading companies in Mauritius Brothers and Ireland Fraser Co. Ltd early 19th century. Quoted on the local Stock Exchange, IBL is the second largest conglomerate in Mauritius, with a turnover in excess of 4 billion rupees (about 160 million US dollars). It is totally owned by Mauritian investors. The Group's activities cover most economic sectors of the island including tourism, aviation, shipping, manufacturing and distribution. |
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