ER Group Limited, the Mauritius-based conglomerate created through the combination of ENL and Rogers groups, posted net profit of MUR7.37 billion ($153.7 million) for the year ended June 30, 2026, up from a pro forma MUR4.74 billion ($98.9 million) a year earlier, as hospitality and travel led earnings.

Profit gets a major boost

Profit before tax rose to MUR9.05 billion ($188.8 million) from MUR6.17 billion ($128.7 million) on a pro forma basis. Revenue was broadly stable at MUR46.35 billion ($967 million), compared with MUR46.79 billion ($976.1 million), while a MUR1.94 billion ($40.5 million) net nonrecurring gain boosted reported earnings.

The gain included a MUR2.02 billion ($42.1 million) bargain purchase gain linked mainly to the accounting treatment of New Mauritius Hotels Ltd. Excluding nonrecurring items, normalized profit after tax reached MUR5.42 billion ($113 million), with normalized earnings per share of MUR6.47 ($0.13), highlighting stronger underlying operations.

Hospitality leads earnings

Hospitality and Travel remained ER Group’s largest earnings engine, with revenue climbing to MUR25.34 billion ($528.6 million) from MUR22.65 billion ($472.5 million). Segment profit after tax reached MUR5.43 billion ($113.3 million), or MUR3.53 billion ($73.6 million) on a normalized basis, helped by demand, pricing and currency movements.

The segment benefited from the full consolidation of New Mauritius Hotels and ER Hospitality. Real Estate generated MUR4.77 billion ($99.5 million) in revenue and MUR1.47 billion ($30.7 million) in profit after tax, supported by property funds Ascencia and Oficea, despite lower revenue than the previous year.

Diversified businesses add support

Commerce and Manufacturing generated MUR8.63 billion ($180 million) in revenue and MUR443.03 million ($9.21 million) in profit after tax. Logistics contributed MUR4.25 billion ($88.4 million) in revenue and MUR216.4 million ($4.5 million) in profit, while Finance posted MUR732.93 million ($15.3 million) in profit.

Agribusiness revenue reached MUR1.16 billion ($24.1 million), although profit fell to MUR14.98 million ($310,000) amid weaker sugar prices. Technology and Energy generated MUR1.1 billion ($22.9 million) in revenue and MUR54.22 million ($1.12 million) in profit, while Finance benefited from credit growth and associate Swan.

Expansion extends beyond Mauritius

ER Group, which employs more than 12,000 people across 17 territories, operates across seven sectors, including Agribusiness, Real Estate, Hospitality and Travel, Logistics, Finance, Commerce and Manufacturing, and Technology and Energy. Its expansion includes a MUR1 billion ($20.8 million) co-investment vehicle with partners in Kenya.

New Mauritius Hotels is also planning to acquire Zuri Zanzibar, extending the group’s hospitality footprint into East Africa. The strategy builds on the combined heritage of ENL and Rogers while positioning ER Group to capture demand across Mauritius, the Indian Ocean and other African markets.

Cash strengthens balance sheet

Operating cash flow rose to MUR11.26 billion ($235 million), supporting a stronger balance sheet and allowing the board to declare MUR664.41 million ($13.9 million) in dividends, equivalent to MUR1.38 ($0.02) per share. Total assets increased to MUR155.69 billion ($3.24 billion) from MUR130.28 billion ($2.71 billion).

Total equity rose to MUR61.96 billion ($1.29 billion) from MUR51.9 billion ($1.08 billion), while equity attributable to shareholders reached MUR35.42 billion ($738.5 million). Net asset value per share climbed to MUR73.57 ($1.53), giving investors a stronger capital base alongside the group’s expanding regional operations.