IBL Group, Mauritius’ largest conglomerate, posts $2 billion nine-month revenue

IBL Group, Mauritius’ largest diversified conglomerate, reported steady growth in the first nine months of its 2026 financial year, supported by stronger revenue contributions across its business units and continued expansion of its international operations. Revenue rose above $2 billion, reinforcing the group’s position as a leading corporate group in the island nation.

In its latest financial statement, revenue increased 15.2 percent to MUR94.8 billion ($2 billion) for the nine-month period ended March 31, 2026, compared with MUR82.3 billion ($1.74 billion) a year earlier. Operating profit climbed 25.4 percent to MUR7.1 billion ($150.3 million), while earnings before interest, taxes, depreciation and amortisation rose 19.4 percent to MUR11.2 billion ($237.1 million). IBL attributed the improvement to broader consolidation of recently acquired businesses and stable performance across its overseas subsidiaries.

Diversified portfolio supports core earnings

Profit from continuing operations increased to MUR3.49 billion ($74 million) from MUR2.89 billion ($61.2 million) in the prior year period, reflecting steady contributions from its diversified portfolio. However, overall profit for the period declined to MUR3.57 billion ($75.6 million) from MUR3.99 billion ($84.5 million) a year earlier. The earlier period included gains from discontinued operations totaling MUR1.1 billion, which were not repeated this year.

The group also noted that the previous year’s results were supported by one-off gains linked to the disposal by Lux Island Resorts and the reclassification of Nouvelle Clinique Bon Pasteur from associate to subsidiary. In the current period, earnings were affected by a goodwill impairment recorded by one of its subsidiaries. Finance costs also increased following the acquisition of Seybrew by PhoenixBev, while higher tax charges weighed on overall profitability.

IBL Group’s total assets rise to $3.04 billion

IBL Group, founded more than a century ago, operates more than 300 brands across 22 countries and employs over 40,000 people. Its activities span retail, financial services, logistics, engineering and other sectors that form the backbone of its diversified structure. Under Arnaud Lagesse, the group has continued to expand its international footprint, with its balance sheet reflecting that growth. Total assets rose to MUR143.81 billion ($3.04 billion) from MUR134.79 billion ($2.85 billion), while total equity increased to MUR47.63 billion ($1.01 billion).

Looking ahead, the company said performance across its operating clusters has remained broadly steady so far in the current period, despite external pressures linked to geopolitical tensions in the Middle East and disruptions around the Strait of Hormuz. It warned that a prolonged disruption could have a wider effect on operations, but said it is actively monitoring developments and putting contingency measures in place to support stability across its businesses for the remainder of the year.