Mauritius’ Phoenix Beverages revenue jumps 26% to $355 million on regional expansion

Phoenix Beverages Ltd. posted a 26 percent increase in revenue for the year ended June 30, 2026, as the Mauritius-based brewer and beverage maker benefited from the full-year consolidation of Seychelles Breweries Ltd., stronger domestic demand and investment across the Indian Ocean. The expansion helped sustain dividends despite a sharp decline in net profit.

It reported group revenue of MUR16.89 billion ($355.3 million), up from MUR13.4 billion ($282 million) a year earlier. EBITDA increased to MUR1.99 billion ($42 million) from MUR1.85 billion ($39 million), while EBITDA before noncash impairment charges reached MUR2.34 billion ($49.2 million), reflecting continued investment in its regional expansion.

Profit falls as costs rise

Profit after tax fell to MUR416.8 million ($8.8 million) from MUR803.6 million ($16.9 million), reflecting MUR341.7 million ($7.2 million) in acquisition-related finance costs and strategic write-downs. Despite the lower earnings, the board maintained total dividends at MUR386.5 million ($8.1 million), matching the previous year as operating performance remained resilient.

Regional operations provided the biggest boost to revenue, led by Seychelles Breweries, which Phoenix acquired on July 1, 2025. The business contributed MUR2.24 billion ($47.1 million) in revenue and MUR217 million ($4.56 million) in profit after tax during its first full year under the group, strengthening Phoenix’s presence beyond Mauritius.

Seychelles lifts regional sales

Overseas revenue more than doubled to MUR4.23 billion ($89 million) from MUR2.08 billion ($43.7 million), while revenue from Mauritius rose to MUR12.66 billion ($266.3 million) from MUR11.32 billion ($239 million). At company level in Mauritius, revenue increased 11.6% to MUR12.83 billion ($270 million), while operating profit rose 28.1 percent to MUR1.44 billion.

In Réunion, Phoenix generated €34.4 million ($39.2 million) in revenue while preparing for the launch of its Coca-Cola bottling and distribution franchise in October 2026. Corrective measures are underway to restore production facilities to peak efficiency by December, alongside a €25 million ($28.5 million) investment in a new production plant.

Capacity investment accelerates

The new plant is expected to expand Phoenix’s manufacturing capabilities and broaden its beverage portfolio across the region. The company continues to produce and distribute beer, carbonated soft drinks and packaged beverages across Mauritius, Réunion and Seychelles, using its expanding footprint to build scale while maintaining its focus on operational cash generation.

Phoenix generated MUR1.64 billion ($34.5 million) in operating cash flow during the year, supporting continued investment as the group expanded its regional assets. Total assets rose to MUR19.77 billion ($415.9 million) at June 30 from MUR15.95 billion ($335.6 million) a year earlier, reflecting the impact of acquisitions and capital spending.

Balance sheet expands

Property, plant and equipment increased to MUR8.89 billion ($187 million) from MUR5.86 billion ($123.3 million), while total equity rose to MUR9.03 billion ($190 million) from MUR7.67 billion ($161.4 million). Cash and cash equivalents reached MUR1.14 billion ($24 million), up from MUR828.8 million, giving Phoenix additional liquidity for its expansion plans.

It also streamlined its corporate structure in July 2026, after shareholders approved the court-sanctioned amalgamation of Phoenix Investment Company and Camp Investment Company under a Scheme of Arrangement. The restructuring followed the financial year and further consolidated the group’s corporate framework as Phoenix expanded its operating footprint across the Indian Ocean.