International Distillers (Mauritius) Ltd (IDM) operates a bottling, sale and distribution unit of a mix of local and imported spirits, wine and alcoholic products at Plaine Lauzun.
During the year under review, the Company increased its turnover by Rs 104 million to reach Rs 977 million, on account of an 8.5% growth in its sales volume and reflected the strength of its local brands.
Profit realised by IDM in 2017/18 amounted to Rs 82 million, slightly lower than the preceding year. This was mainly due to a change in product mix that resulted in a lower profit margin and took on board higher selling and distribution costs.
The share of profits attributable to EUDCOS amounted to Rs 41 million (2016/17 – Rs 41 million).
New Goodwill Co Ltd (New Goodwill) owns and operates a rum-bottling and distribution unit at Baie du Tombeau.
For the period 2017/18, the company’s turnover reached Rs 1,881 million, representing a 2.3% growth compared to the Rs 1,839 million turnover realised the preceding year. This was the result of higher sales prices further to an increase in excise duties.
On the other hand, the Company’s profitability fell by Rs 20 million to reach Rs 95 million, and the drop in profit was attributable to a lower gross profit margin achieved in the year under review and a lower fair value gain on its portfolio of investments, compared to the preceding year.
The share of profits attributable to EUDCOS amounted to Rs 33.4 million (2016/17 – Rs 30.9 million) and included the share of subsequent adjustment to results of New Goodwill for the preceding year.
Overview of Activities
Medine Distillery Company Limited (Medine Distillery) produces rum, alcohol and vinegar for the local and export markets.
Performance Review
The company performed well and increased its turnover by Rs 28 million to reach Rs 275 million for the year under review. The
revenue growth resulted from better sales on the local market and a significant increase in its export sales. It also benefitted from
favourable foreign currency rates that contributed to the higher export revenues. The profitability for this year improved in line with
the revenue growth and reached a record level of Rs 51.7 million.
Production has been good overall, with 5.7 million litres of alcohol produced. The production output was, however, limited by the
amount of molasses allocated to the distillery and in that respect will restrict the potential growth in production volume in the future.
This year, the company has launched a new vinegar on the market. This new product is made from pure sugarcane juice and produced
using a traditional method, known as the ‘Méthode Orléanaise’, whereby the vinegar goes through a slow natural fermentation
process in oak casks. Targeted at the premium vinegar market, it has a strong offering in terms of origin and uniqueness, appealing
to Mauritian chefs looking for new local ingredients for their signature serves, or to tourists as an authentic local product to bring back
home. Feedback on our Pure Cane Vinegar has been very promising thus far.
Strategy & Outlook
Prospects for 2018/19 are good and we are expecting that demand for alcohol will remain stable on the local market and continue
to grow on the export market.
