Rogers & Co Ltd Exceeds Pre-pandemic Performance Levels and Achieves Significant Growth in 2023

Published On: November 14, 2023Company: Rogers and Company Ltd (ROGERS.mu)
What has been Rogers' major strategic shift in 2023 and how did it impact the company's performance?
Rogers' major strategic shift in 2023 was the conclusion of their three-year strategic plan which involved reshaping and refining their operations. This included a shift from four served markets to five segmented areas of operation for clearer delineation of focus and expertise. The implementation of this plan allowed the company to surpass its pre-pandemic performance levels, unlock new revenue streams, transform underperforming units into profitable ones, and strengthen its market position.

Summary of Key Points

  • Rogers has made significant growth and expansion in its five segments in 2023. Their strategic three-year plan has led to a positive performance both operationally and financially.
  • Under their strategic plan, concluded on 30 June 2023, operations have been refined and reshaped, surpassing pre-pandemic performance levels. Strategies included Transformations, Turnarounds, and Transactions.
  • Despite inflationary pressures and high-interest rates globally, performance has improved. Both the depreciation of the Mauritian Rupee and enhanced earnings in foreign currencies played a special role. Profit boosts in the Hospitality and travel segment and improved performance of Logistics, Malls, Real Estate and Agribusiness segments also positively impacted overall results.
  • A proactive People strategy has been put in place to attract, develop, and retain talent in Mauritius amidst a challenging talent landscape.
  • The Boston Consulting Group Ltd facilitated an annual board evaluation to keep the board effective amidst challenges.
  • Notable board changes include the stepping down of Aruna Radhakeesoon as Executive Director and the welcoming of Angélique Desvaux de Marigny as Non-Executive Director and member of the Corporate Governance Committee (CGC).
  • Rogers’ commitment to the corporate culture of ethics and good governance remained strong while amplifying its focus on minimising environmental impacts and consolidating its Sustainability and Inclusive Development framework.
  • Plans moving ahead include maintaining growth momentum, deeply rooted in four pillars of Excellence, Talent & Culture, Internationalisation, and Sustainability & Inclusive Development, and broadening international presence.

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About Rogers & Co Ltd (ROGERS.mu)

Rogers & Co Limited is an international and investment services company  headquartered in Mauritius, that primarily focuses on operations in four markets which are, financial tech, hospitality, logistics and property where the company provides services such as fiduciary, outsourcing, and consulting services, such as tax advisory, captive insurance management, fund administration, and actuarial services, technology services, including integrated business solutions, cloud computing, unified communications and collaboration, and mobile and converged connectivity services and financial services. Rogers & Co Limited operates through the following segments, aviation, financial services, hospitality, logistics, property, real estate and agribusiness, technology, corporate office, and corporate treasury. Rogers & Co limited is listed on the Stock Exchange of Mauritius.

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