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ENL Commercial turnover grew by 21%

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ENL Commercial turnover grew by 21%

ENL Commercial recorded a commendable set of results for the year ended 30 June 2018 with improvements in all the operating segments. Turnover grew by 21% from last year to Rs 3.5bn with more than a twofold increase in operational profits from Rs 62m to Rs 143m.

These results were mainly attributable to the good performance of the automotive segment. The results were also impacted by the following other components:  profit of Rs 27m related to the sale of investment properties, an impairment of goodwill for Rs 14m, an impairment of investment for Rs 14m and profit of Rs 12 m related to the deemed disposal of an associate. Share of profits from associated companies was comparable to last year at Rs 21m while profit after taxation amounted to Rs 79m compared to Rs 3m last year.

Commenting on these results, Eric Espitalier-Noël – CEO, ENL Commercial said :  “we are pleased with the results achieved for the year ended which are closer to the Group’s ambitions. More initiatives are being pursued to unlock the full potential of the Group”.

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