Our Transformation plan was officialised as from July 1, 2017 and we are now seeing signs of an “early harvest” as we had already worked the business plans and ecosystem well in advance – for nearly a year now. The transformation plan is not a goal, nor a journey but an Integrated Thinking that is embedded in our DNA. We have now ensured that our Vision, Values, Risk Management and five capitals are well connected and reflect on our way forward through our subsidiaries as follows:
Revenue is up, our profit is stable as well as our PAT efficiency. As a company, we have underperformed a number of KPIs this financial year mostly due to economic uncertainties in our main markets.
Net profit amounted to MUR 18 million in FY2017 while Group revenue reached MUR 272 million in FY2017, an increase of 24% from last financial year, driven mainly by a robust performance in our Information Technology and Telecom businesses. Our PAT as a percentage of revenue (on continuing operations) was 5%, in line with our target, despite:
In this context, regional expansion and investment in emerging technologies [such as Artificial Intelligence, Blockchain and Big Data Analytics] continue to be a priority during this transition period whereby the new subsidiaries and services are capitalising on the tremendous work delivered by our Information Technology people during those last ten years, which has helped to build the reputation of the company.
We continue to assist nongovernmental organisations working with orphans or disadvantaged children around the country. We have thus given our support to
(i) Century Welfare Association which runs a special educational needs school for children with disabilities;
(ii) Child Evangelism Fellowship which provides academic and character building classes as well as organises music and sports activities for children at Karo Kaliptis and Cité Hibiscus; and
(iii) ANFEN which promotes non-formal education for out-of-school adolescents in a network of 20 centres.
We remain very confident and excited about the years to come:
The medium-term which will see us through to June 2019 remains a very critical one as is any period of transition. While we continue to push forward on our Transformation agenda, we remain very watchful of any disruption that might affect the Group.
As I leave the leadership position in the able hands of the CEOs of the subsidiaries and Liliane Li Chiu Lim, our former CFO who has joined the holding company [which is now an investment company], I will be taking up the Interim CEO position of NanoBNK while remaining as director on the Boards of all the subsidiaries. Although we were not an employer of choice at the beginning of this adventure especially for the young engineers, the Anglo African culture made it possible for some of them to reach senior positions, not only within the company, but also with local and global technology firms, which gives me a great sense of satisfaction!
Finally, I would like to thank all our people and our customers for their support during the last ten years that have resulted in Anglo African becoming a leading player in the Technology space in this region. I would also like to thank the Chairman and Members of the Board of Directors for their continued support, guidance and advice.