IBL Integrated Report 2022

building a legacy together

As we enter a decisive time for People and the Planet, we are reminded that our future will be determined by what we do now. The future is in our hands and fundamental changes are needed to catalyse transformation at the speed and scale the world needs it.

It became crucial to go further and faster, for all the companies in the group to look in the same direction, speak with one voice and join a unifying strategy. In 2021, we sped up our sustainability journey to connect the dots across all that we do - our context, our businesses, our resources, our impact, our strengths and weaknesses, and our objectives - so we can make a difference in our own manner, and live up to our vision of “creating a brighter future for all”.

Sustainability is an ongoing journey that requires constant vigilance, continuous learning and unlearning, and the agility and boldness to adjust course when needed.

We invite you to explore the pages of this report to learn about how our sustainability approach is driven from a place of purpose and how IBL's people are growing into more active citizens, resolved to protect the legacy we wish to leave behind for future generations.

introduction

who we are

leadership

strategy

performance

corporate governance

statutory disclosures

financial statements

shareholders' corner

financial performance

group revenue (RS)

44.98

group profit before tax (RS)

2.68

group profit after tax (RS)

1.96

market capitalisation (RS)

35.37

chairman's statement

I am pleased to share that after two years of navigating a volatile and challenging environment, IBL has delivered a strong performance for the year and embarked on an exciting chapter in its growth story.

The pandemic has had a profound impact on business since the second half of FY2020, throughout FY2021 and in the first half of the current FY2022, impacting people's health, and causing economic and social disruptions throughout the world. There have also been significant changes in the way business is conducted.

interview with the group ceo

At the start of FY2022, I voiced my hope that the worst was behind us and I anticipated things to get back to normal. I am both proud and relieved that this statement has proven to be true for IBL Group, albeit some lingering fragility on the socio- economic front.

For over a year and a half, between March 2020 to October 2021, and straddling three of our financial years, the pandemic brought the tourism industry in Mauritius to its knees.

group chief finance officer's report

The COVID-19 outbreak first hit us as we approached the last quarter of the financial year ended FY2020 (year ended 30 June 2020). This threw the whole world, Mauritius and our group into sudden lockdowns, with restricted movement and halting foreign travel through border closures. These put significant pressure on logistics, sourcing of essential products including food, medications and spare parts for equipment and machinery. Hotels were closed off to foreign tourism, which put pressure on jobs and resulted in a shortage of foreign currency on the market for imports.

download group cfo's report