Phoenix Beverages Reports Annual Sales Increased by 9.2% in Mauritius and 6.1% in Réunion for the 6 Months Ending December 31, 2023

Published On: February 20, 2024Company: Phoenix Beverages Limited (PBL.mu)
What has led to the improved financial performance of Phoenix Beverages Limited in the period under review?
The improved financial performance of Phoenix Beverages Limited has been due to several factors including an increase in sales volume in Mauritius and Réunion Island, a new distribution partnership with Pernod-Ricard, increased export volumes, and improved performance of their subsidiary Phoenix Beverages Overseas Limited.

Summary

  • Sales volume in Mauritius and Réunion Island for the 6 months to 31 December 2023 increased by 9.2% and 6.1% respectively compared to the same period last year.
  • Company turnover increased by 12.3% during this period and profit after tax increased by 32.2%.
  • Turnover from operations in Réunion Island saw an increase and the profit after tax for this period also grew.
  • Improved results were due to the new distribution partnership with Pernod-Ricard and increase in export volume.
  • Subsidiary Phoenix Beverages Overseas Limited recorded better performance due to increased volume and improved margins.
  • Group turnover increased by 16.0% and group profit after tax increased in the period under review.
  • PhoenixBev celebrated its 70 years of partnership with The Coca Cola Company, 60 years of Phoenix Beer, and 20 years since the rebranding of Phoenix Beverages Limited in 2023 with a special bonus for all employees.
  • Phoenix Beverages Limited acquired a 28% stake in a beverage startup company in Kenya named African Originals Limited in October 2023.
  • The Group plans to monitor external factors affecting its supply chain while expanding production capacity to meet growing demand and maintain shareholder value.

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About Phoenix Beverages Limited (PBL.mu)

Phoenix Beverages Limited is a Mauritian company that produces bottles and distributes alcoholic and non- alcoholic brews. Under the company’s production line, there are numerous renowned brands represented. With brands such as Guinness Foreign Extra Stout, Malta Guinness and Smirnoff Ice, Coca-Cola, Fanta, Sprite, Schweppes, Dasani and Crystal table water, being produced and sold by the company under the respective contract agreements. The company is headquartered in Phoenix, Mauritius Phoenix and operates as a subsidiary of Phoenix Investment Company Limited. Phoenix Beverages Limited is listed on the Stock Exchange of Mauritius.

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