Financial Statements
Performance for the year ended 30 June 2026
Approved by the Board on 21 September 2026
The Abridged Audited Group Financial Statements of Velogic Holding Company Limited ("Velogic") for the
year ended 30 June 2026 have been approved by the Board. Here is the year, at a glance.
Performance Highlights
Revenue
MUR 4,016m
▼ 2.8%
Profit After Tax
MUR 205m
▼ 12.0%
NAV per Share
MUR 23.49
▲ 11.3%
Revenue by Segment
- Cross-Border LogisticsMUR 2,301.4m (57%)
- Landside LogisticsMUR 1,475.9m (37%)
- Packing & ShippingMUR 239.2m (6%)
Group Performance
Velogic Group recorded Revenue of MUR 4,016m for the year ended 30 June 2026, a 2.8% decrease on the
prior year (FY25: MUR 4,132m), mainly reflecting the reduction in volume from Cross-Border Logistics
operations. Group Profit After Tax decreased by 12% to MUR 205m (FY25: MUR 233m), mainly due to lower
profitability from overseas operations.
Highlights from the Year
- Cross-Border Logistics revenue in Mauritius declined 10.5% on lower import and export volumes, yet profitability still improved, supported by the integration of MC Easy Freight.
- Sugar Packing revenue grew 29.7%, driven by higher volumes packed and a favourable average exchange rate.
- Kenya delivered 17.5% revenue growth, though gross margin was pressured by higher diesel costs and lower return cargo volumes.
- Overseas profitability was also impacted by the delayed AGOA renewal affecting Madagascar and a 35.5% revenue decline amid challenging market conditions in India.
Geographical Analysis
Revenue (MUR'm)
| Mauritius | 2,144 (-4.2%) |
| Overseas | 1,873 (-1.1%) |
Profit After Tax (MUR'm)
| Mauritius | 136 (+22.7%) |
| Overseas | 69 (-43.7%) |
Mauritius revenue declined 4.2% to MUR 2,144m, while Profit After Tax rose 22.7% to MUR 136m, supported
by improved profitability in Cross-Border Logistics and Sugar Packing. Overseas revenue held broadly
stable at MUR 1,873m (-1.1%), while overseas Profit After Tax fell 43.7% to MUR 69m, reflecting weaker
profitability across several overseas markets, including Kenya, India, Madagascar and Reunion.
Outlook
The Group's performance remains subject to external factors, including high oil prices, uncertainty
over US trade policies and climate-related risks affecting tea and sugar cane harvests. Nonetheless,
through operational efficiency measures, the Group remains confident in its ability to secure growth.
Velogic welcomes the announced infrastructure developments in the Mauritian port and the Rodrigues
airport, which are expected to provide impetus to the logistics sector.
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