Rogers & Co. Ltd
Wednesday, June 13, 2007

The Group achieved a strong performance for the six months ended 31 March 2007. Overall profit before tax and exceptional items increased by 46%, from Rs 396 m to Rs 578 m, while earnings per share (excluding exceptional items) amounted to Rs 16.43 compared to Rs 11.40 in March 2006.
Rogers
Rogers recorded a remarkable half-year performance, with a 25% increase in revenue from Rs 1,738 m to Rs 2,176 m and profit before tax growing by 64% to Rs 305 m. This substantial improvement is underpinned by a buoyant tourism industry following the implementation of the open sky policy and better visibility for the destination. The resulting increase in tourist arrivals, combined with all our hotels being fully operational, enabled the hotels division to significantly improve its performance. The growth in the tourism sector also impacted positively on the leisure division’s results.
The logistics and aviation divisions recorded a satisfactory performance despite the difficult environment in which they operate.
Cim Financial Group


The profits of Cim Financial Group have grown by 28%, with profit before tax increasing from Rs 128 m to Rs 164 m. Improved results in the global business division were mainly driven by an increase in its clients base and the delivery of higher value services. In the insurance division, the growth in the general business and the partial realisation of investments generated improved profit. With improved margins and tighter cost controls, the trading division’s results are encouraging. Increased revenue from the outsourcing businesses and a buoyant stock market for the stockbroking activities also contributed to an improved performance for the Group.
Cerena Group
Cerena Group reported losses of Rs 17 m compared to profit before tax of Rs 45 m in 2006, mainly due to the operational losses of Desbro. The associated cost of closure of the business has been reported as exceptional items. In addition, fierce competition in the paint manufacturing sector and the depreciation of the Mauritian rupee increased pressure on margins.
Other Investments


Bel Ombre non-sugar activities contributed to the improved results of the Group. The IRS project at Bel Ombre has recently been initiated but should not influence the results for the current financial year. The increase in New Mauritius Hotels’ dividends further contributed to higher earnings per share.
Dividends


An interim dividend of Rs 5.00 per share has been declared for 2007 compared to Rs 3.50 per share in 2006.
Outlook
The forecast for the Group looks promising, with overall results for the current year before exceptional items set to significantly improve over last year. The relatively high occupancy rates during the traditionally ‘low’ season in the tourism sector are encouraging for the forecasted performance of Rogers. Cim Financial Group is expected to maintain a comfortable growth for the full year, whilst it is unlikely that Cerena Group’s results will improve.
By order of the Board
13 June 2007


The interim financial statements of the Group are unaudited and have been prepared using the same accounting policies as the audited financial statements for the year ended 30 September 2006.
Copies are available free of charge at the registered office of the Company.
These financial statements are issued pursuant to listing rule 12.21.
The Board of Directors of Rogers and Company Limited accepts full responsibility for the accuracy of the


information contained in these financial statements.
Rogers House, 5 President John Kennedy Street, PO Box 60, Port Louis, Mauritius
Tel: (230) 202 6666, Fax: (230) 208 3646


www.rogers.mu